We’re proud that we’ve had a hand in generating c£1billion in exit value for our clients over the past 12 months or so.
This series on #exits will shed light on some of those deals, showcasing the success stories that Rowan-appointed candidates have helped to effect.
This episode looks at the December ’20 sale of construction software specialist Eque2.
Eque2 is a SaaS software vendor, which provides business management software to the construction, contracting and housebuilding industries.
PE House LDC wanted to exit the business with a substantial ROI on their £16m investment.
In order to facilitate this, they wanted to appoint an FD to:
– Build robust KPIs, forecasts and financial models
– Support acquisitions
– Guide Eque2 through its second deal, leading on the full vendor financial and tax due diligence processes, allowing LDC to exit the business
They worked closely with Eque2 CEO Justin Moule and LDC Investment Director John Clarke, in order to understand the requirement, and the business’ goals, ambitions and challenges.
After an extensive Search process, Andrew Bones was appointed.
– Contributed to increase of T/O by 29% and EBITDA by 85%.
– Continued the business’ acquisitive strategy, leading on the acquisition of CLiP IT Solutions Ltd.
– Contributed to the exit of LDC with a sale to Westbridge Capital for £46.5m, after £16m investment.
It’s great to see Rowan appointees have a tangible effect on business growth, and helping to generate excellent returns for investors. Look out for the next episode of #RowansExitStories
Head here for the full Eque2 story -> https://rowangroup.uk.com/case-study/eque2/