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.
Luxury kennels and cattery with professional grooming parlour (licensed for 142 dogs and 26 cats) in Peterborough for Sale. An opportunity to acquire this luxury kennels and cattery with stunning spacious four bedroom detached residence which must be...
LEASEHOLD
The business has been established for a number of years and has been owned and operated by the founder since that date. Offers invited.
FREEHOLD
Situated in the heart of Ilkley town centre just off the busy Brook Street. The yard is a stylish bar offering a wide range of drinks, good, quality food, music with varied DJ’s and live artists all encompassed in an interesting layout. Offers invite...
FREEHOLD
|
22
|
|
Mar
|
Scunthorpe nightclub up for sale | BUSINESS SALE
A former nightclub based in Scunthorpe has been put up for s...
|
21
|
|
Mar
|
Kent Logistics provider completes a successful acquisition | BUSINESS SALE
A Kent-based personalised logistics provider, backed by Livi...
|
20
|
|
Mar
|
Warrington construction company enters administration | ADMINISTRATION
A prominent construction business headquartered in Orford Gr...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources