Specialist IT firm Integrity Software is on the growth trail following a management buyout deal backed by Midlands bankers and advisers.
Integrity develops and supplies Windows-based software applications for the construction, office products and niche retail sectors.
The firm has more than 3,500 customers, including medium-sized construction companies; office products and stationery trade suppliers; and niche retailers such as hair and beauty salons, and builders merchants.
The buyout was financed by Graphite Capital and the Barclays Leveraged Finance team in the Midlands with Catalyst Corporate Finance as lead adviser to the management and Eversheds as legal adviser to the management.
Mark Howell, chief executive who led the management team with finance director Joe Hanly, said: "Our business has expanded through aggressive acquisition to date and we look forward to consolidating these acquisitions and focussing on the implementation of a commercial strategy to grow the business organically from its solid base."
Richard Sanders, partner at Catalyst Corporate Finance, added: "After a period of acquisitive growth Integrity is now well placed to benefit from growth in its core markets exploiting the full potential with its market leading products.
"With increasing activity in the IT and software services market and the trend for increasing consolidation continuing Integrity is well placed to deliver significant growth in the coming years."
Paul Harper, associate director, Barclays Leveraged Finance, said: " Barclays Leveraged Finance is delighted to have supported the MBO of this longstanding customer.
"Originated by the Barclays Midlands Larger Business Technology and Telecoms Team, this transaction represents an opportunity for Barclays to continue supporting Integrity in the next phase of its development, alongside Graphite Capital and the management team."