The Midlands team at Lloyds TSB Corporate Markets acquisition finance, along with a selection of advisors from the region, has supported the £35 million buyout of software producer Amtech.
Amtech, based in Milton Keynes, was bought from HSBC Private Equity UK in a deal backed by investment firm Primary.
Established in 1984, Amtech provides software and data service products for the electrical and mechanical building services industry.
Lloyds TSB Corporate Markets acquisition finance, represented by Andy Taylor and Paul Whitehouse, provided a £15 million senior debt package to support the buyout and the company’s ongoing growth strategy.
Andy Taylor, director at Lloyds TSB Corporate Markets acquisition finance team in the East Midlands, said: “In Amtech, we’re supporting a market-leading operator which has high levels of recurring revenue and strong cash generation.
“The firm has a resilient business model, strong positions in its niche markets, and products which are focused on business critical areas.
“Amtech’s experienced management team has extensive knowledge of the sector and a proven ability to grow the business, both organically, through acquisitions and cross-selling opportunities.”
Other Midlands-based advisors who worked on the deal include Matthew Heaton at Pinsent Masons, acting as legal advisors to Lloyds TSB Corporate Markets acquisition finance, Dougal Baxter at BDO, which undertook financial due diligence for Primary and Catherine Eley of Eversheds, the legal advisors to the vendor, HPE.