Maven backs MBO of ProspectSoft
HMT LLP led by Partners Paul Read and Andrew Thomson undertook financial due diligence for Maven Capital Partners (“Maven”) on their £6 million investment in cloud-based technology company ProspectSoft Ltd (“ProspectSoft”) to support the management buy-out.
Founded in 2000 and based in Buckinghamshire, ProspectSoft provides niche, award-winning Customer Relationship Management (CRM) and e-commerce software for the Business-to-Business (B2B) market. Its technology can be fully integrated with clients’ existing accounting and Enterprise Resource Planning (ERP) packages including market-leading systems such as Access Dimension, Exchequer, Pegasus and Sage.
ProspectSoft have recently been shortlisted within two national industry award categories: The UK Cloud Awards for CRM Product of the Year and The National Technology Awards’ Cloud Product of the Year.
The business will utilise the £6 million funding from Maven to help roll out its new Cloud-based SaaS software application Prospect365. The product was officially launched in December 2016 following several years of development.
HMT, led by Paul Read and Andrew Thomson undertook financial due diligence on this transaction.
Andrew Ferguson, Partner at Maven commented:
“We were delighted to work with the HMT Transaction Services team again, and as always they provided an excellent service. Their advice was clear and concise, and as ever they produced a high quality report which highlighted all key issues in a clear and easily understandable way. We are happy to recommend their services.”
Paul Read commented:
“The management team at ProspectSoft have built a very successful business over the last years and with Maven’s support will be able to achieve the next step in their growth story. We were delighted to advise Andrew, Tom and the rest of the Maven team on this exciting opportunity and look forward to working with them again in the future.”