A Yorkshire compliance consultancy has sold a majority stake to a retail compliance firm.

Harrogate-based Think Compliance, which provides compliance support and Regulatory Data Reporting services, has sold a majority stake to Product Partnerships Ltd (PPL), which now holds a majority stake in the business.

Phillip Garlick, CEO at PPL, said: “This marks another major milestone in PPL’s evolution, strengthening our consultancy-focused capability while turbo-charging efficiency through our technology platform, Artemis.”

The partnership aims to broaden compliance services for regulated businesses across the UK.

Think Compliance will contribute its relationship-led consultancy and Regulatory Data Reporting experience, while PPL will add wider authorisation support and a platform-enabled approach to oversight and training.

Rebecca Wilson, managing director at Think Compliance, said: “I’m absolutely thrilled that this strategic move marks an exciting new chapter, ensuring continued growth.

“In partnering with PPL our clients will have access to greater resources and opportunities to ensure their business continues to remain compliant whilst ensuring the continuity of the relationships that they enjoy with our team.”

Ms Wilson was advised on the transaction by Yorkshire law firm Schofield Sweeney.

Ben Stephens, a solicitor in Schofield Sweeney’s corporate team, said: “It was a pleasure to work on this deal and to bring together two companies with such complementary strengths.”