Boldon James (United Kingdom) - Oct 2007

unquote
01 October 2007

Tweet
Facebook
LinkedIn
Google plus
Send to

ISIS Equity Partners (ISIS) has wholly exited its 38% stake in communications software provider Bolden James Holdings Ltd in a trade sale to QinetiQ Group Plc, generating an IRR of 69.5% and a 3.11x return on the investment. The deal includes an initial cash consideration of £15.7m, with a further £4.3m payable subject to the performance of the business, which would take the total value of the transaction to £20m. KPMG Corporate Finance operated a competitive pitch process on behalf of the company, approaching several global trade buyers. The sale of Bolden to a globally active corporation was seen to be the best way for the company to continue its plans for international expansion. The exit was handled for ISIS by Andy Gregory.

Previous Investment

ISIS originally backed the £5.5m management buyout of Bolden James from Protek Group in June 2005, with Lloyds TSB providing a debt package. The investors have since successfully grown the value of the company through investment in overseas sales and marketing, which has led to a significant increase in revenues. The business has also secured several high profile contracts such as the UK Cabinet Office and Ministry of Defence, which are both lucrative and beneficial for the reputation of the company. Bolden was established in 1985 and currently employs 68 staff, with offices in Crewe and Maidenhead.

Advisers

Vendor - Halliwells - Manchester, Rebecca Grisewood (Legal)Vendor - KPMG's Private Equity Group, Christian Mayo (Corporate Finance)