Deal done:
Sale of an Independent Software Vendor – Road Haulage Sector

Turnover:   £680k
Deal completed in:       4 months

The Company

An innovative provider of business management, transport management and telematics software and hardware products to the haulage and distribution industry.

Based in East Anglia, the company’s products were predominantly provided on a subscription-based, SaaS model.

The company had recently completed a number of significant haulier-to-customer integration projects across the client base so existing clients were very “entangled”. Significant development had created a refreshed product set with some exciting USPs and the business was in a strong position to compete.

Click here for a Business Summary.

The situation

After disposing of one arm of the business and restructuring to focus on products rather than services, it was decided that only one of the three Directors/Vendors – the Product Development Director – was required long-term and that new ownership would better enable growth and further development.

The remaining vendor, who had been leading the business, wished to continue his involvement under new ownership.

What Hornblower did

As a third of our company sales are of Information and Communications Technology companies, we are well connected to the key players in this sector. We were able to swiftly generate a market for the company and soon received 50 enquiries.

Working closely with our client, we selected the offer and type of buyer that our clients felt best suited the business going forward and negotiated for their best offer.

The win-win result

Our client accepted an offer from a private overseas high net worth individual who is assembling a group of software based businesses in the UK and as such wants to invest in a leadership team in the UK that can take this group forward. The intent of the buyer was to maintain the current identity and business infrastructure of the current business and provide additional resources to grow the business. The business now has a new lease of life with the remaining director fully involved in driving the product development.

SOLD –  February 2016