NVM makes portfolio acquisition

Private equity-backed Kerridge Commercial Systems (KCS) has made an acquisition through the purchase of TIS Software.

KCS, which receives backing from NVM Private Equity, provides business management software services. Newly acquired TIS Software, which trades as Strategix, also designs software targeted at the wholesale and industrial distribution sectors.

In March 2010 NVM invested £9 million through a management buy-out of KCS, with the strategy for the business since the deal being about increasing the company’s presence in the UK and overseas.

Ian Bendelow, chief executive officer of KCS, says the buy marks the first acquisition for KCS since its investment from NVM, alongside HSBC.

He adds: ‘KCS and TIS Software already share some customers and, in some areas, operate in similar markets.

‘We complement each other very well and I am confident that the blended skills, resources and capacity that both organisations offer will further strengthen our services.’

TIS Software products are targeted at the distribution, supply chain and field service project management markets. Alongside its UK customers the business also has interests in Australia and New Zealand.

KCS has built up a reputation as the leading specialist in its market, says Clive Austin, director at NVM Private Equity.

Austin adds: ‘At the time of the buy-out, Ian and his management team were keen to take the business to its next level by making selective acquisitions.

‘The purchase of TIS Software is a strategic move and the two businesses combined will establish a leading player within the international enterprise resource planning (ERP) services market.’

The deal follows on from a number of recent transactions completed by NVM. Earlier in October its portfolio business Kitwave acquired Automatic Retailing, having been initially backed by NVM in March through a £7.5 million investment.

In June the private equity firm backed the £6 million management buy-out of IT reseller Tinglobal.

Todd Cardy

Adelbert Swaniawski

Todd was Editor of GrowthBusiness.co.uk between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital. Connect with...

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