Safe Supports Software Buy-Out
Posted on 10. Feb, 2011 by editor in Business News
Safe Computing Limited, the Leicester based software development and outsourcing business has joined forces with an ambitious management team to secure the buy-out of Intersoftware Recruitment Solutions Limited for an undisclosed sum in a deal that enhances Safe’s market leading position in the provision of software for the recruitment industry.
Safe has taken a stake in the business alongside the existing management team of Intersoftware, Adrian Kruger, Darren Russell and Danny Svendson, and provided the necessary funding to secure the purchase of the company from the owners. The deal represents the fourth major transaction undertaken by Safe in the last two years as part of a planned growth strategy that will take Safe to turnover in excess of £13m in 2011, employing 150 people.
Based in Manchester, Intersoftware has been operating for over 20 years and is a well established software house providing “end to end” recruitment software solutions that allow recruiters to match the right candidate with the right job and tracks the process right through to the payment of a temporary workers wages.
Sandy Scott, Managing Director of Safe Computing, has become Non-Executive Chairman of Intersoftware. Commenting on the deal Sandy said: “We have been aware of Intersoftware for many years and have always held their products in high regard. When the opportunity came to support the management team in a buy-out we were keen to be involved. Intersoftware’s products target the smaller end of the market when compared to Safe’s and so this deal means that together we can satisfy customer demand on a much broader scale”
Lead adviser on the transaction was John Sykes, Head of Skye Corporate Finance, who commented: “This is another creative step taken by Safe on the path to future growth. Harnessing the ambition of an incentivised and stake-holding management team with the financial strength, resource and experience of Safe de-risks the process and provides a great platform for success.”
Legal advice to Safe was provided by Simon Dakin of Actons Solicitors in Nottingham. Tax advice was provided by Emma English of RSM Tenon in Leicester.
Pictured – l-r – John Sykes and Sandy Scott
