Procurement software firm in £15m acquisition

Thu, 10 Nov 2016 | BUSINESS SALE

Procurement software specialist Proactis Holdings is to buy a public sector systems provider in a deal worth £15.5 million.

Proactis said its acquisition of Aberdeen-based Millstream Associates was a “significant step” in its growth strategy.

Millstream provides e-procurement solutions to a wide range of public sector customers. The deal will be financed by a combination of a proposed placing and a revolving credit facility of £6 million.

Proactis said Millstream, which has more than 50 public sector clients, would complement its existing business.

Millstream has a track record of making strong profit and cash generation, reporting revenues of £4.9 million and adjusted EBITDA of £2 million for the year ended 30 June 2016.

Proactis chief executive Rod Jones said: "The acquisition of Millstream represents a significant step in our growth strategy, substantially increasing the scale of the group.

"The acquisition broadens both the product offering and the customer base on the buy side of the procurement process while also bringing scale of operation on the strategically important supply side of the procurement process.

"Millstream is a clear complementary fit to the group and provides some potential upside with cross-selling opportunities into both the Proactis and Millstream customer bases."

Find a business for sale.


Share this article



Latest Businesses for Sale

Printed Packaging Manufacturer
London, South East, UK

Long established with strong brand identity. High Levels of repeat business. Continually expanding customer base. Offers invited.

Asking Price: Offers Invited
Turnover: £847,000

Industrial & Elevator Door Engineering
South of England, UK Wide

Very High profile customer base. Framework agreement with world's leading elevator manufacturer. Outstanding track record . Exciting expansion opportunity. Offers invited.

Asking Price: Offers Invited
Turnover: £925,000

Automotive Development & Tuning Business (Fast Sale)
UK Wide

For Further Information: All enquires including requests for a non-disclosure agreement (NDA), should be directed to the below together with Your Name, Registered Company Name and Contact Number: Unconditional offers together with proof of funds to b...

Asking Price: Offers Invited
Turnover: £445,000


View more businesses for sale

News Search

Latest News

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

 
15
 
Jan
 

Hawk Plant enters administration | ADMINISTRATION

The Shropshire company, that has previously undertaken landm...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources