CSC (United Kingdom) - Jan 2008

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01 January 2008

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ISIS Equity Partners has completed a financing package for CSC, a structural engineering software development company valuing the business at £20m. Yorkshire Bank provided the bank finance to support the transaction, which sees ISIS acquire a minority shareholding in the business. Clearwater Corporate Finance ran a process to find a suitable backer for CSC. ISIS believes its prior awareness of the business – it had contacted it in the past and its knowledge of the niche software market helped it to win the deal.

Company

Based in Pudsey, West Yorkshire, CSC provides high quality software solutions and associated technical support and training for structural engineers. It also has offices in Singapore, Malaysia, Australia and the US. Its customer base comprises some 2,500 companies in the UK, Ireland, Singapore, Malaysia and Australia and plans to continue international development opportunities in the US, Middle East, India and Asia Pacific. The company employs 70 staff. CSC was founded in 1975 as a subsidiary of a civil and structural engineering consultancy. It became independent in 1987 and has since undergone two buyouts.

People

James Hall led the transaction for ISIS with James Titmuss. Hall joins the board of CSC following the deal. Mark Roberts is the managing director of the company. Peter Smith arranged the banking finance on behalf of Yorkshire Bank.

Advisers

Debt - Addleshaw Goddard, Ben Clare (Legal)Equity - AMR, Simon Robbins (Commercial Due Diligence)Equity - Clearwater Corporate Finance, Carl Houghton (Corporate Finance)Equity - Cobbetts , Sean Fitzgerald (Legal)Equity - Ernst & Young, Ian Robinson (Financial Due Diligence)Management - Hammonds, Gregg Davison (Legal)