KBS Corporate Finance Oversees Acquisition of Watermark Technologies Limited
Operating since 2003, Watermark Technologies Limited is a specialist developer and supplier of innovative document management software (DMS) to clients operating across a diverse range of sectors throughout the UK, South Africa, and the United Arab Emirates (UAE). Watermark’s comprehensive service offering has earned it an excellent reputation in its sector and facilitated the establishment of strong relationships with several prestigious clients.
The opportunity proved popular attracting a significant number of interested parties across trade and private equity. KBS Corporate Finance was able to produce a competitive bidding environment resulting in multiple offers.
The ultimate offer came from Grafenia Plc as part of their acquisition strategy, which has seen the group experience high levels of growth.
Gavin Cockerill, acting chief executive of Grafenia, said: “The acquisition of Watermark is yet another step toward growing our software nucleus. Maximising what Grafenia is good at, selling and supporting software systems that help businesses run better.”
Tim Boggie and Stewart Spink, joint founders of Watermark, added: “We had been planning for retirement and actively seeking a new owner for the business we have built and cherished over 20 years.”
“We believe Grafenia is the perfect home to provide continuity of support and maintain long-term customer relationships developed over many years. We look forward to seeing Watermark thrive in a larger group.”
Tom Eatough, Corporate Director at KBS Corporate Finance, advised Watermark throughout the process.