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An MBO of the UK operations of an American corporation that had developed an IT and software solution for the retail and related markets. The company has a number of high profile customers through marketing the successful packages created by the American vendor. The Company was Microsoft retail partner of the year 2010/11 and has been a Gold Certified Partner since 2004.
Despite an annual turnover of £2.6 million, cash flow is stretched significantly on a regular basis, as the average cost of an installation, including additional services, is £550,000. This has been exacerbated with the delivery of a significant contract being delayed, resulting in a sudden, short term loss of revenue, hence this opportunity. With the right level of working capital, there is considerable scope to develop expand the business.
The director/shareholders are looking for an equity investor to support the business and help them maximise the opportunity. They are prepared to offer a significant equity stake to the right person. Whilst active involvement is desirable, it is not essential.
Ref: JO11 140
A statutory demand is a written demand for payment of a debt, in a prescribed form, served on either: An individual, in accordance with section 268(1)(a) of the Insolvency Act 1986 (IA 1986). A company, in accordance with section 123(1)(a) or 222(1)(a) of the IA 1986. This practice note provides more detail (Statutory demands and […]View More
David LLoyd, Robinhood Consulting View More
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