KBS Corporate Oversaw the Acquisition of Wharncliffe Business Systems
Wharncliffe Business Systems is a well-established provider of Sage 200 systems for SMEs with supporting IT solutions, CRM systems and software support for national clients, specialising in Sage solutions tailored to a wide range of clients’ individual requirements. The Company is particularly prominent within the flooring and textiles industries, with its Sage-based in-house developed Realitex200 system providing dedicated solutions for companies in this market and facilitating the continued smooth running of their operations.
Having built up the business over the course of 41 years, the shareholders instructed KBS Corporate with the sale of their business as part of their retirement plans.
Wharncliffe Business Systems attracted impressively high levels of interest totalling 135 interested parties, with the vast majority coming from UK trade with some private equity interest. KBS Corporate was able to use these high levels of interest to generate several offers. Innov8 Technology were the eventual buyer of choice, this acquisition forming part of their diversification plans. The acquisition of Wharncliffe enables the company to strengthen its presence in the North of England.
Carl Maher, Managing Director of Innov8, commented: “This is the latest fantastic addition to the Innov8 Group that not only increases our presence in the Sage and Cloud spaces, but adds another important vertical solution to our already exciting InnRange portfolio.”
Guy Haynes, Corporate Director at KBS Corporate Finance, advised Wharncliffe Business Systems throughout the process, and commented “This has been a long journey incorporating some highly unusual events, but from a very early stage, it was clear that there was a strong commercial fit between Innov8 and Wharncliffe. More importantly, there were shared values and a strong personal affinity between the parties, which I’m sure is the primary reason why this deal has made it over the line. I feel confident that Innov8 will be able to build on the excellent work of the Exley family over several decades, and that the business will continue to go from strength to strength.”
DTE advised Innov8, while legals were provided by Gateley PLC on behalf of the vendors, and Gorvins on behalf of the buyers..