The deal
Our Corporate Finance team has advised the Shareholders of Evo-Soft, a provider of Microsoft Dynamics 365 Business Central implementation solutions and aftercare services, on its sale to BCN Group (“BCN”).
Evo-Soft offers full design, implementation and maintenance of Microsoft Dynamics 365 Business Central software to businesses throughout the UK. Its customers operate across a variety of sectors including manufacturing, distribution, wholesale, import and export, and auction houses. Evo-Soft is also a leading UK Microsoft Gold Enterprise, Resource and Planning (ERP) partner.
BCN is a leading Digital Transformation solutions provider, based in Manchester. The Company offers Cloud, Managed IT, Cyber Security and Microsoft 365 services to private and public sector organisations right across the UK. BCN supports over 1,000 clients to deliver and manage technology solutions to over 30,000 users.
Our FRP Corporate Finance team, led by Consultant Nigel Griffiths and supported by Senior Associate Charlie Lesbirel acted as the lead advisor and presented the acquisition opportunity to a number of potential acquirers. BCN quickly became the standout strategic acquirer for the business and offers Evo-Soft a place to develop and grow as part of the Group. The team together managed exchanges with all the potential acquirers, negotiated terms and guided the process through to a successful completion.
The acquisition of Evo-Soft will allow BCN to expand its Dynamics service offering for its customers by obtaining Evo-Soft’s expertise in the space. The acquisition will also further strengthen BCN’s position as a market leader in the UK Digital Transformation sector, and aid BCN on its continued growth journey.
Nigel Griffiths, Consultant at FRP Corporate Finance, said: “It has been an absolute pleasure working with Ashley and Derek on this transaction and in BCN we feel the Company has joined a Group that will allow it to continue to deliver the highest quality service for its loyal customer base. We wish the team at Evo-Soft continued growth and success within the BCN Group.”
Ashley McIntyre at Evo-Soft said: “The BCN acquisition provides a true opportunity for Evo-Soft to continue its growth as a leading Microsoft Dynamics 365 Business Central solutions provider and represents a huge milestone in Evo-Soft’s successful history. The team’s services have been invaluable to us throughout every step of the sale process, and I’d have no hesitation in recommending them or using their services again.”
Legal advice to the Shareholders was provided by Gerallt Jones and Matt Detheridge at Hugh James.
The legal advisors to BCN for the transaction were Christopher Wilson and Sam Jones at DLA Piper. Financial due diligence was provided to BCN by Catriona Lang, Rebecca Smith and Elliot Pledger at Dow Schofield Watts Transaction Services.
Deal summary
Date:
September 2022
Sector:
Technology
Deal type:
Selling a business
Deal size:
Undisclosed
It has been an absolute pleasure working with Ashley and Derek on this transaction and in BCN we feel the Company has joined a Group that will allow it to continue to deliver the highest quality service for its loyal customer base. We wish the team at Evo-Soft continued growth and success within the BCN Group.Nigel Griffiths Corporate Finance