BTCSoftware
BTCSoftware is a multi-award-winning tax software solution which helps accountants to streamline and simplify tax and compliance work. The company launched its SaaS solution, BTCHub in 2018 which enables accountants to comply with Making Tax Digital (MTD) VAT regulations and is integrated with HMRC and Companies House.
Bright is a UK and Ireland-based accounting, practice management and payroll software provider. Bright’s software offers world-class support and comprehensive solutions including BrightPay Payroll Software, Thesaurus Payroll Manager, Surf Accounts Production, AccountancyManager, and now BTCSoftware.
Rob Ellis, CEO of BTCSoftware commented:
“We are delighted with the process of the sale conducted by the Regent Assay team. We have been working closely for the past few years with them. They expertly provided a comprehensive range of consulting services at the outset to help position our business to optimise its value for this sale. The Regent Assay team fully understood the dynamics of the business and we were able to implement their key recommendations prior to our going out to market. They identified a strong shortlist of acquirers and managed the negotiation process expertly and smoothly. We are really pleased with the outcome for all of our shareholders and employees and are looking forward to being part of Bright Group moving forward. We thank the whole team of Pradip, Brett and Olly for all their support throughout the process.”
The Regent Assay team is pleased to have worked with the BTCSoftware team in achieving this milestone having previously undergone the EAP program (now ASSESS) alongside successful fundraise to fuel business growth. This transaction demonstrates Regent Assay’s continued expertise and track record in the technology sector.
InfoFlex
Civica, a global leader in software for public services, has announced that Civica UK Limited, the company’s wholly owned subsidiary, has acquired UK based healthcare software specialist Chameleon Information Management Services Limited and its subsidiary, Flex Software Limited, trading as InfoFlex.
With over 25 years’ experience in the healthcare sector, InfoFlex provides a market-leading cloud enabled application with trust-wide and cross-organisation capabilities. A signatory to techUK's Health & Social Care Interoperability Charter, its software integrates with existing hospital systems, across 65 clinical specialities including; cancer services, digital remote monitoring solutions (RMS), Inflammatory Bowel Disease (IBD) and endoscopy.
A strategic acquisition for Civica’s Health & Care division, InfoFlex strengthens the Group’s position with capability including patient pathway tracking and workflow management, remote monitoring, data management and integration. Dedicated to managing and improving patient care and treatment processes within the NHS, InfoFlex integrates with Civica’s clinical information management cloud solution, Cito. This will enable real-time access to all clinical information, powered by flexible patient pathways, delivering a cost-effective electronic patient record (EPR) capability.
InfoFlex has more than 40,000 users across over 130 NHS trusts. During the COVID-19 pandemic, trusts have used InfoFlex in innovative ways to manage data collection and reporting. In one example, West Hertfordshire Hospitals NHS Trust used the software to set up a Virtual Hospital for the administration of patients being cared for in the community.
The acquisition is a significant strategic investment by Civica for its health division and builds on recent health cloud software acquisitions including Warwick International and Trac Systems, along with launching newly built products Cito and Civica Prescribing to establish a stronger integrated capability at a time when care providers are looking for cloud based, integrated solutions that enable real-time access and sharing of information.
Guidance Marine
The technology group Wärtsilä has acquired Guidance Marine Limited, a privately owned company with offices in the UK, Singapore and the USA. Guidance Marine is recognised as a technology leader in the marine industry for sensor solutions relating to dynamic positioning and other vessel control systems, such as collision avoidance and remote control operations.
Wärtsilä is deeply committed to providing technologies needed to enhance ‘intelligent’ shipping, whereby digital solutions will greatly improve the efficiency, safety and profit earning capabilities of its maritime customers. The acquisition of Guidance Marine will enhance Wärtsilä’s capabilities in the area of situational awareness and near-field measurement, both essential for more intelligent vessel navigation.
“Guidance Marine’s core competences are wide ranging and include the development of sophisticated positional measurement sensors and systems for high accuracy control applications. These competences complement our own activities in the field of radar technology, navigation and dynamic positioning, by joining forces we can certainly further accelerate the introduction of solutions that will take shipping into a new era of efficiency,” says Maik Stoevhase, Director, Automation, Navigation & Communication, Wärtsilä Marine Solutions.
“Joining forces with the Wärtsilä Corporation presents an exciting opportunity for Guidance Marine to work alongside a major player in the marine industry. We are committed to continue serving all our customers, whilst at the same time looking forward to bringing them faster access to new products and technologies. This partnership provides a significant step change in developing the future of maritime positioning and navigation where the integration of multi-modal sensor technologies is a key factor in the delivery of ‘intelligent’ vessels,” says Jan Grothusen, CEO at Guidance Marine.
Founded in 1991, Guidance Marine has developed critical in-house capabilities, including a dozen patents for various technologies and a ready portfolio of closely related products. In its research and development activities, the company has also established strong connections with a number of leading UK universities. In 2016, Guidance Marine’s turnover was GBP 6.3m (EUR 7.0m). Guidance Marine employs over 50 people worldwide and is an internationally successful award winning company. It has a strong track record in delivering significant safety and cost benefits by bringing disruptive position measurement technologies to marine markets across several continents.
Multi Fan Systems Limited
Regent Assay Corporate Finance has advised the shareholders of Multi Fan Systems Limited (“Multi Fan”) on the sale of the business to Telford based, Filtermist International Ltd.
Multi Fan, based in Stourbridge, is a strategic bolt on acquisition and will be integrated into Filtermist’s current service offering in the United Kingdom.
Oil mist filters manufacturer Filtermist, part of the Swedish owned Absolent Group, has expanded its service offering in recent years to include the effective removal of dust, fume and smoke from industrial workplace air.
Regent Assay supported founder David Fall and fellow majority shareholders Richard Field and Kevin Hood throughout the process to completion, negotiating and structuring the deal in order for the exiting shareholders to maximise the value realised.
The deal was led for Regent Assay by Guy Hemington and Greg Fowler. Commenting on the deal, Greg said: “The shareholders have built a successful business over the course of the last 15 years and we are delighted to have been able to assist them in realising value. The strategic fit with Filtermist is an excellent one for all parties and we expect both businesses to thrive in the next chapter of their development. We continue to see a range of interesting opportunities to work with owner managers to deliver their strategic goals.”
Weightmans provided legal advice to the exiting shareholders while Legal Clarity and PKF Cooper Parry provided legal advice and financial due diligence to Filtermist.