Home news Spearing Waite advises on multi-million MBO

Spearing Waite advises on multi-million MBO

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An East Midlands software supplier is set for expansion in the wake of a multi-million pound management buyout.
The management of ENSEK, based in Nottingham, secured private equity funding from LDC in a deal led by ENSEK chief Jon Slade.
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Jon and his team were advised by Martin Smith and Jahid Ali of Spearing Waite’s Leicester office and Magma Chartered Accountants.
ENSEK supplies accounting software to UK energy providers, and after a series of customer wins the investment will enable the business to embark on the next stage of its growth.
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Spearing Waite partner Mr Smith said: “We are delighted to have supported the management team on this buyout and investment which will continue the growth of this exciting business.
“It’s great to be involved in a team delivering a strong regional deal and on our part from Leicester. It shows the strength of the advisory capability both from Spearing Waite but also within the East Midlands.”
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ENSEK’s Mr Slade said: “The energy sector is facing a period of unprecedented change, driven largely by the number of smaller suppliers entering the market.
“We want to build on our work of providing market-leading software services to energy suppliers, large and small, across the UK and continue to help them use data to become more efficient and competitive within the growing market.”
Source: Murcury