28 Jun 2019
Investec advises Aptitude on £51m Microgen Financial Systems disposal
Investec Corporate and Investment Banking (“Investec”) has supported Aptitude Software Group plc (“Aptitude”) on its £51m disposal of Microgen Financial Systems (“MFS”).
Aptitude Software Group comprised Aptitude Software, a provider of business-critical software with a suite of specialised applications, and MFS, whose core solution, 5Series, provides software predominantly for the trust and fund administration sector.
Investec acted as financial adviser, sponsor and broker to Aptitude on the transaction, and has been the retained financial adviser and corporate broker to Aptitude since September 2007.
In March 2019, Aptitude’s board publically announced its intention to demerge MFS in order to focus on Aptitude, and instructed Investec to review strategic options including a demerger onto AIM, a trade sale and a sale to private equity.
Investec was appointed to run a dual-track process, bringing to bear the full breadth of its advisory capabilities, including technology M&A advisory, ECM execution and access to the private equity investor community.
Following an attractive offer from Silverfleet Capital, Microgen was sold for a cash consideration of £51m.
Investec’s Junya Iwamoto commented:
“Investec was well-positioned to run this dual-track process, leveraging both our Technology sector and PLC advisory expertise, as well as our access to the private equity community, to ensure maximum value for Aptitude.”
For more information, please contact:
Luke O’Mahony, Investec (Public Relations) - 020 7597 5261
Fatima Ismat, Lansons (PR agency for Investec CIB) - 020 7566 9709
Investec Corporate and Investment Banking
Investec CIB is an international corporate and investment bank working with growth-orientated companies, institutions and private equity funds. Our people set us apart – empowered, straightforward and invested in our clients’ long-term success. We provide capital solutions, advice and ideas, along with bespoke investment solutions and access to capital markets. Founded in 1974, The Investec Group has grown successfully through its client focussed approach and its ability to serve diverse and evolving financial needs.
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