BGF invests £2.5m in business software provider Celaton

The transaction was completed in December 2012.

BGF's investment will support the extension of the the company's sales and marketing infrastructure in both the public and private sectors.

Company
Celaton is a Milton Keynes-based software company, specialising in software-as-a-service systems for businesses. It was founded in 2004 by Andrew Anderson and Gary Grant, following the MBO of Redrock Technologies from Netstore and the acquisition of DG Tech.

Its primary product is inStream, a business software that automates processes for customer correspondence, financial documentation, human ressources, legal matters and insurance claims. Celaton's clients are mostly active in the retail, travel, insurance and professional services sectors and include Asos.com and The Carphone Warehouse.

In addition to its headquarters in Milton Keynes, Celaton operates facilities in Southampton and Wigan. The company has 60 employees and recorded revenues of £2.2m in 2012.

People
Investment director Tim Whittard led the deal on behalf of BGF and will join Celaton's board. Andrew Anderson is co-founder and CEO of Celaton.

Advisers
Equity – Wragge & Co (Legal); HMT Corporate Finance (Financial due diligence).
Company – Shoosmiths (Legal); Mazars (Corporate finance, tax).

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• Topics
• UK / Ireland
• Technology
• Expansion
• BGF (Business Growth Fund)
• United Kingdom