K3 Business Technology Group

FRP Corporate Finance’s team has advised K3 Business Technology Group (K3) on the £36 million sale of one of its divisions, NexSys Solutions, to global ERP software provider SYSPRO.

NexSys is a specialist provider of digital manufacturing and distribution software in the UK. The acquisition builds on a long and successful partnership between SYSPRO and NexSys, during which NexSys established itself as a trusted provider of digital solutions to manufacturing and distribution companies across the UK.

The carve-out acquisition is a key milestone for SYSPRO’s strategy to expand its global footprint by strengthening its presence in the UK and expanding its reach across Europe. It will also enable SYSPRO, which is backed by global private equity firm, Advent International, to expand its highly regarded digital manufacturing suite with new products and capabilities.

As the exclusive sell-side provider, our Corporate Finance team, led by Partner James Mines and Senior Manager Chris Haidar, provided end-to-end support to K3, helping prepare NexSys for sale and leading on the negotiation of terms and financial due diligence and through to a successful conclusion.

James Mines, Partner at FRP Corporate Finance, said: “This deal marks the second time we’ve worked with Tom and the team at K3, and it was a pleasure working with them to deliver another successful outcome.

“The transaction is a great result for all involved. It directly support’s SYSPRO’s geographical and capability expansion strategy, provides a new strategic platform for the NexSys team and maximises the value K3 receives for its asset delivers a strong outcome for the shareholders of K3.”

Tom Crawford, Non-Executive Director at K3 Business Technology Group, said: “As the UK and Ireland’s largest specialist provider of SYSPRO software, NexSys Solutions is a superb fit for SYSPRO and Advent. Advent has the resources and market experience to more fully capitalise on NexSys’s strategic value.

“Having worked with FRP Corporate Finance before, we knew that the support and advice it provides is second to none. James and the team have great experience in both our sector and with carve-out transactions and they brought this to complete a deal that delivered great results for all involved, on a short timeline.”