4Projects has completed a MBO backed by August Equity

4Projects, the UK’s market leading provider of project collaboration solutions in the AEC sector has today announced that it has completed the management buy-out (MBO) of the company together with August Equity LLP ( “August Equity” ). Project collaboration solutions enable multiple parties in any location to access and collaborate on project documentation. 4Projects solutions are delivered to customers using a Software as a Service (“SaaS”) model.

 

4Projects boasts high profile clients such as Sir Robert McAlpine, Berkeley Homes, Microsoft, the NHS, Waitrose, E.on and The Ministry of Justice. 4Projects solution was also recently used in the construction of the Arsenal Emirates stadium.

 

4Projects was founded by Richard Vertigan, Managing Director, who recognised the potential of the internet (SaaS) to deliver project collaboration software in the AEC sectors. With over 50 employees, the business has enjoyed healthy and profitable growth since inception, with a revenue model that has risen, month on month, for over 6 years.

 

Stephen Edwards has been appointed as the Chairman of 4Projects to work with management. Stephen is an experienced practitioner in the SME software space.

 

Commenting on the transaction, Richard Vertigan said, “The continuity of operations is a vital factor in our future success. We pride ourselves in providing a world class service to our entire customer base”.

 

He continued “One of the attractive features that August Equity brought to the table is their deep understanding of our business and sector. We welcome Stephen Edwards’ enthusiasm to help us develop our business and are pleased to be working with him. We, Stephen and the August Equity team look forward to an exciting future for the business”.

 

Paul Callaghan, who is exiting as Chairman of 4Projects, said “I am absolutely delighted that this deal has been successfully completed. No competitor operating in our sector would have been able to attract this level of investment. The ability to earn predictable and stable revenues while achieving attractive and sustainable profitability and cash flows is absolutely fundamental”.

 

Fraser Davidson, Investment Director at August Equity, believes that 4Projects is already well positioned to win more clients in the industry. He said, “Not only is the AEC sector expected to drive strong growth for 4Projects, but there are also multiple international opportunities open to the company. We are fully supportive of the management team who we believe has performed extremely well and believe that under Stephen Edwards, they will continue to develop the business even further.”

 

Banking facilities were provided by Kaupthing Singer and Friedlander Limited.

 

Regent Partners LLP acted as exclusive Corporate Finance advisor to 4Projects.

Buyer

August Private Equity

Seller

4Projects Holdings Ltd

Business

SaaS Collaboration Software

Date

July 2007

Category
Regent company sale