August Equity acquires Business Systems

This is the second investment from August Equity V, which closed on £300m in January 2020. The fund invests £15-40m in equity in UK-based SMEs with EBITDA of £1-5m.

Geoff Love, former chief executive officer of business messaging specialist Commify, joins as executive chairman, while the existing management team will remain with the company.

Following the transaction, Business Systems will focus on broadening its services, expanding its technology vendor base and continuing to expand its customer base globally.

Company
Business Systems is a specialist in cloud enterprise communications, providing a suite of contact-centre-related services, such as call monitoring and compliance, workforce engagement management and contact-centre-as-a-service offerings. It employs around 85 staff and is based in Isleworth. In 2019, the company generated revenues of £12m and adjusted EBITDA of £715,000. Almost 60% of the company's revenues are recurring, according to its accounts.

People
August Equity – Mehul Patel (partner); Richard Muckle (director).

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• Topics
• Buyouts
• UK / Ireland
• Technology
• United Kingdom
• August Equity LLP