LDC-backed Kirona buys Xmbrace

The acquisition expands Kirona's service offering to clients across the public and private sectors. Following the bolt-on, Kirona expects to report sales of more than £7m for the year ending March 2013.

LDC provided follow-on funding to support the transaction. The private equity firm backed the MBO of Kirona in December 2011 in an all-equity deal led by Simon Braham and Jonathan Bell.

Company
Founded in 2001 and based in Watford, Xmbrace develops and supplies scheduling software to local authorities, social landlords and private maintenance contractors to facilitate repair operations. The company integrates call centres, housing administration, works order management and mobile systems to handle tenants' service requests.

The firm has been a partner of Kirona since 2006. Xmbrace employs 35 members of staff and reported a £3.15m turnover in 2011.

People
Braham and Bell led the deal for LDC. Xmbrace's founder and CEO David Todd and operations director Richard Winch will remain with the enlarged company.

Advisers
Equity – Clearwater, Carl Houghton, Andy Strickland (Corporate finance); Gateley, Paul Jefferson, Jemma Bolton, Kaisa Lebiecki (Legal).
Portfolio company – Clearwater, Carl Houghton, Andy Strickland (Corporate finance); DSW, Ed Brentnall, Catriona Lang (Financial due diligence); Gateley, Paul Jefferson, Jemma Bolton, Kaisa Lebiecki (Legal).

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• Topics
• UK / Ireland
• Technology
• Expansion
• Acquisition finance
• LDC