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Primary backs £35 million buy-out of AMTECH Group

March, 2010

 

Primary has backed the GBP35 million funded management buy-out of AMTECH Group Limited (“AMTECH”).  The transaction represents Primary’s sixth deal in the software and IT services space in recent years and the sixth investment in its current fund, Primary III.  

 

AMTECH has four market-leading product suites: software for electrical design testing and inspection (APS), product and pricing information for the M&E market (Luckins), estimating and cost control software (Estimation) and digital specification libraries for building standards & codes of practice (NES). The group has recently launched Luckins Live, a web-based product and pricing information portal for the M&E industry.  It is headquartered in Milton Keynes, with operations in Stamford, Solihull and Manchester.

 

Primary was attracted to the opportunity by AMTECH’s embedded ‘industry-standard’ software, high recurring revenue base, strong cash generation, the potential to realise future benefits from rolling out best practice from its acquisitions on a group basis and the chance to continue pursuing its successful ‘buy-and-build’ strategy. AMTECH has a resilient business model operating in niche markets and products which are focused on business-critical areas.  Primary was awarded exclusivity after a competitive auction process, with high deliverability cited as a key determining factor.

 

Contact Jackie Adams for more information

Tel: +44(0) 20 7920 4800

Email: jackie@primaryeurope.com

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