Thu, 14 Jul 2022 | BUSINESS SALE
Yorkshire-based IT firm Human Computer Interaction (York) Ltd (HCI) has said that it will target acquisitions of complementary businesses after being taken over by private equity firm Advantos Equity Partners for an undisclosed sum.
Founded in 1989 and with turnover of more than £700,000, HCI specialises in web applications and bespoke software. Accountancy and advisory firm Azets advised on the deal after the company’s corporate finance team was approached by HCI managing director Michael Jeffrey, who was seeking a sale of the firm that would enable himself and two other shareholders to gradually exit and realise their investment.
The buyer, Advantos, is a London-based PE firm which also operates from offices in Germany and Norway. The firm is comprised of a small team of entrepreneurs specialising in buying and investing in small technology-focused businesses.
Post-acquisition, all HCI’s current staff will remain with the business, with Michael Jeffrey and fellow director John Bates continuing to provide consultancy and support. Advantos plans to grow the company by both creating new jobs and acquiring complementary UK businesses.
HCI managing director Michael Jeffrey said: "We are delighted with the sale of HCI to Advantos which we believe is a great outcome for all stakeholders: staff, customers, and shareholders. In Advantos we've found in a buyer who we believe shares our principles of quality of service, integrity, and respect. Advantos will bring the vision and energy to enable HCI to prosper into the future."
Jeffrey added: "The sale of HCI was professionally orchestrated by Azets who produced the prospectus, identified buyers, and negotiated the deal.”
Benjamin Sommer, partner at Advantos, commented: "HCI is an established, well-respected company with 30 years' experience and we are delighted to have completed its acquisition as part of our IT sector strategy.”
"We are looking forward to developing the business into an international player as part of the wider Advantos portfolio and are also currently seeking several complementary acquisitions to further fuel growth."
Read more about gaining private equity backing for acquisitive growth.
Find businesses for sale here.
If you are looking for an exit, we can help!.
The company provides a wide range of smart communication services, including broadband, IoT / Retail SIMs, and its proprietary hosted telephone platform which encompasses hardware, computer-based telephony, and a mobile softphone app. All of which is...
This is a fantastic opportunity to purchase an established (since 2000) and well-respected IT and communications business based in Colwyn Bay.
The company offers a wide-range of branding and marketing services to its clients across the UK. Operating for over 20 years, the business has built a long-standing relationships with its client network, ensuring a stable flow of revenue. The company...
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
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
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.