Case Study: ATW Information Technology Systems Limited
- Deal size:
- Company Sales & Acquisitions
- Deal completed:
- January 2009
Meridian Corporate Finance (“Meridian”) advised the shareholders on the disposal of ATW Information Technology Systems Limited to IRIS Enterprise Software Limited (“IRIS”) the largest privately owned software and services business in the UK for an undisclosed consideration.
Sussex based ATW who were acknowledged by Exchequer for The Platinum Reseller Award as one of the leading resellers of Exchequer Software the UK’s leading accounting software will be a valuable addition to IRIS. Already having worked together closely for the last seven years IRIS will hugely benefit from ATW’s well established and excellent reputation for the quality of its customer service and the delivery of expert consultancy.
IRIS are backed by mid-market private equity fund Hg Capital.
The business will join the growing portfolio of the IRIS Accounting & Business Solutions Division which comprises the mid-market ERP systems, IRIS Exchequer and IRIS Chorus and the Professional Service Automation solutions, IRIS PROJECTminder and IRIS SharpOWL. The division is headquartered in Bournemouth with offices in Brighton, Barnstaple, Thanet and West Bromwich.
Stuart Dawson, Managing Director of IRIS Accounting & Business Solutions commented: “ATW is a valuable addition to the IRIS portfolio bringing significant expertise and knowledge of the IT and accounting requirements of medium sized businesses. We will continue to work closely with ATW’s sister business Bright Matter which specialises in Web design and marketing business.”
Darren Thompson, Director of Meridian commented: “I believe this acquisition will form an important part to the long term strategy of IRIS and will allow them to distinguish themselves much further from their competitors.”
Richard Watts, Managing Director of ATW commented “Selling ATW to IRIS was a natural evolution for the business as well as a good fit for IRIS. Meridian Corporate Finance were a tremendous help in clarifying for me the various procedures involved in the sales process and were able to advise on every aspect alongside the lawyers as the negotiations progressed. A great resource and knowledge base. This sale now enables me to focus entirely on Bright Matter and at the same time continue a working relationship with IRIS for ecommerce development.”