Catapult exits System Integration in management buy-back
Catapult Ventures has sold its stake in British software developer System Integration to the companyтs management, generating a return of 4.9x.
According to the GP, System Integration grew its market share in the meat processing sector and attracted new customers in cheese production and fish processing during the investment period.
Earlier this month, Catapult secured a 5.2x return from its exit from Oxford Cryosystems, also via a management buy-back.
Previous funding
Catapult has been invested in System Integration since 2009, when it acquired a stake through its Advantage Enterprise & Innovation Fund, alongside the management and other private investors.
Company
Lichfield-based System Integration provides software designed to improve profitability to the meat processing industry by ensuring meat is weighed and cut precisely, thereby maximising the profit on each animal. The company was founded in 1992.
People
Jonathan Lowe is head of investor relations at Catapult. Rob Stephens is managing director of System Integration.
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