Micad Systems (UK) Limited / Young Associates
Micad announces the sale of the their business in a deal backed by Young Associates and Micad Management. Cavendish Corporate Finance’s specialist Technology team advised Micad on the transaction
Micad, the leading Software as a Service (“SaaS”) property management and compliance solutions provider has completed a sale of the business, backed by specialist technology investment firm Young Associates and the Micad management team. Cavendish Corporate Finance, the UK’s leading sell-side, mid-market M&A firm advised Micad on the transaction.
Founded in 1987 by Andrew Terry, who will exit the business, Manchester based Micad is a specialist in computer aided facilities management (“CAFM”) software. The software assists in the management and maintenance of large property estates to ensure that its clients remain in compliance with legislation and regulations that are imposed on managing the built environment.
Cavendish ran a competitive process which attracted a high level of interest from a number of financial investors.
Cavendish has so far completed on the sale of five deals in 2014, including Avantia Limited, Polar Speed, Fandstan Electric Group and Barbican Dental Care. Its previous TMT deals include: Avantia, Datong plc, Redbox Recorders, Opta Sports, Primal Pictures, Lightech and Focus Solutions Group.
Andrew Terry, Founder of Micad, commented:
“Over the past 25 years or so the company has enjoyed strong growth and built up a very loyal client base of blue-chip customers. I wish management and Young Associates well as they take the company on to the next stage of its development and further success and would like to thank Cavendish Corporate Finance for doing an excellent job in facilitating the transaction.”
We made absolutely the right choice in appointing Cavendish. Michael Jewell and the team were instrumental in getting us the deal we wanted. I would have no hesitation in recommending them to anyone thinking about a sales process.
Cavendish introduced us to GE and managed the negotiation and coordinated the transaction due diligence. Their involvement was instrumental to the deal being successful.
When looking for an advisor we decided we wanted someone who had specific experience in negotiating within the Private Equity space. It requires some additional skills to those needed in a trade sale and we were lucky to have found in Cavendish, a company that was able to help us.
This marks a significant opportunity for our partners, customers and people as we become part of the global Kyocera family and continue the journey we started back in 1988. When looking for an advisor we wanted someone with an international network and experience of working with buyers both here and overseas. Cavendish had the expertise to facilitate the transaction and the support they provided was invaluable.
The Cavendish team, led by Nick Jones, did an excellent job managing the process and ensuring the smooth closing of the transaction in a timely manner. They were always professional and aligned with our shareholder goals – many thanks to the whole team.
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