16th October 2008
The Manchester office of accountancy firm, Cowgill Holloway LLP, has advised on the management buyout of Manchester-based Servisional, a technology solutions company that provides software & services to the SME marketplace.
Servisional provides Customer Relationship Management and Business Process Management (BPM) software solutions. The software helps companies drive down operating costs, through the automation and streamlining of business processes. The Servisional BPM solution has recently been successfully implemented with online retailers, franchise businesses, training companies and support service organisations.
Begbies Traynor Group, the specialist professional services organisation and major shareholders of Servisional, sold the business following a review of its non-core assets.
Paul Stringer, corporate finance partner at Cowgill Holloway, commented: “Servisional has a robust portfolio of products and clients. The MBO will provide a clear vision for the future direction of the business, allowing the company to enjoy further growth and success. The transaction satisfies the aspirations of the vendors, as well as ensuring that the management team has acquired a business that is well positioned to achieve its long term goals.”
Jamie Lloyd of law firm, Nexus, provided legal advice to the management team at Servisional. Caroline Litchfield at Brabners Chaffe Street solicitors acted on behalf of Begbies Traynor Group.
Disclaimer
The information was correct at time of publishing but may now be out of date.
