Technology

Universe Group plc

Year

2019


Transaction type Debt Advisory

Sector Technology

“We are delighted with this transaction as Celtech is a class-leading developer of cloud-based retail and wholesale management solutions. The acquisition allows the Group to offer the very latest in RMS technologies to existing and new customers and extends the Group’s product offering into wholesaling and new geographies such as Ireland. It is expected to be earnings enhancing in its first full year of ownership.”

JEREMY LEWIS
CHIEF EXECUTIVE, UNIVERSE GROUP PLC

Cavendish Corporate Finance has successfully advised Universe Group plc on their acquisition of Camden Technology (trading as Celtech).

Dublin-based Celtech delivers a cloud-based, real-time modular software (“RMS”) platform, providing retail and wholesale management solutions to well-known retail names such as Bestway, One Stop (900 stores) and various Co-Ops, in the UK and Ireland.

The acquisition represents an important technology grab and extension of the customer base, advancing Universe’s HTEC solution by 3-4 years, delivering a boost to recurring revenue, and enhancing prospects for growth.

Cavendish’s Debt Advisory team – led by Alistair Hay and Mike Dinsdale – worked with management in securing £5m of total facilities from HSBC to assist with the initial acquisition consideration as well as provide operational headroom for the enlarged Group going forward.

Jeremy Lewis, Chief Executive of Universe Group plc, commented:

“We are delighted with this transaction as Celtech is a class-leading developer of cloud-based retail and wholesale management solutions. The acquisition allows the Group to offer the very latest in RMS technologies to existing and new customers and extends the Group’s product offering into wholesaling and new geographies such as Ireland. It is expected to be earnings enhancing in its first full year of ownership.”

Alistair Hay, Debt Advisory Partner at Cavendish Corporate Finance, commented:

“I’d like to congratulate all stakeholders involved in the successful completion of this transaction and wish all the success to the enlarged group going forward. This transaction also marks an important milestone for the finnCap group, representing the first debt advisory transaction for a retained client and further underpins our ability to provide a full service offering.”

Meet the deal team

  • Alistair Hay

    Alistair Hay

    Partner


    ahay@cavendish.com

    +44 (0) 20 7908 6037

  • Mike Dinsdale

    Mike Dinsdale

    Director


    mdinsdale@cavendish.com

    +44 (0) 20 7908 6047