“This new partnership is a very exciting opportunity for Tempcover to both consolidate its existing position and provide a platform for further growth into new verticals and markets. Many thanks to the Cavendish team who provided invaluable advice throughout the process and helped us achieve this great outcome for the Company”Alan Inskip, CEO of Tempcover
Cavendish Corporate Finance, the specialist sell-side M&A firm, has advised OneStep Solutions LLP, the specialist enforcement and debt collection software provider, on its sale to Civica Group, the market leader in business-critical software applications, digital solutions and outsourcing. The acquisition will allow OneStep and Civica to expand their expertise in the local authority market and deliver increased value for customers.
With offices in Huntingdon and Hadleigh, OneStep provides cloud-based application software and related services to support the complete debt recovery process. Its products are used by local authorities and commercial agencies nationally, supporting all aspects of recovery and case management for office, call centre and field agent teams.
The acquisition adds specialist capability which the Group does not currently offer. With a strong market position, OneStep extends Civica’s presence and expertise in existing and adjacent sectors and the combined product set will enable the Group to deliver a wider range of solutions to its customer base.
OneStep Solutions offers a comprehensive integrated platform including client web portal, mobile solutions for field agents and online payments. It has continued to grow over recent years, securing new contracts with commercial enforcement firms and local authorities.
Civica Group is a market leader in business-critical software, digital solutions and outsourcing services that help customers to transform the way they work. The Group supplies more than 3,000 major customers around the world including an extensive presence across the public sector with a successful track record in local government and enforcement.
The deal adds to an already strong first quarter for Cavendish Corporate Finance in the tech advisory sector. Recent high-profile deals include advising on the sales of leading data-driven graphics solutions for live sports broadcast, Alston Elliot to mid-market private equity firm, Inflexion Private Equity and the sale of high-end interiors lifestyle brand, OKA Direct Ltd, to Investindustrial, the Italian owner of Aston Martin.
The Cavendish team was led by John Farrugia, Partner, Technology assisted by Rebecca McCredie.
John Farrugia, partner, technology, commented:
“We are delighted to have advised OneStep Solutions on their sale to Civica UK Limited, which highlights Cavendish’s expertise in tech and debt advisory. This combination will provide both firms the opportunity to expand their market presence and capitalise on new opportunities, and we are confident that Civica is best placed to support OneStep’s team in the next phase of their story.”