UK - Intuita merges with EVision

Guy
06 February 2006

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Manchester-based Intuita, a leading supplier of software to the UK construction industry has announced its merger with EVision Ltd as part of a buy-and-build strategy. Intuita, which underwent a management buyout last month, has followed the MBO with the merger of EVision Ltd in the same month.

Intuita, led by Richard Beaton, who has a track record of success in creating and growing sales-led IT software and services businesses, has made no secret of its plans to drive consolidation in the market and acquire suitable companies to achieve its expansion plans.

EVision, with offices in Livingston in Scotland, Manchester and London, is one of the UK’s leading providers of business information systems for the construction sector. Based on Microsoft Navision, EVision’s ‘Build-IT’ product has eight business application modules which are used as an important management tool for the planning, development and management of complex and detailed contract work.

EVision’s managing director Tom Mill and the sales director Alan Robbie will continue to drive the growth of the Evision business within the newly formed group.

Advising Intuita on the acquisition were Clearwater Corporate Finance led by partner, Carl Houghton, and Jane Mercer, who also advised on the recent MBO. Jane Mercer has now joined Intuita as finance director.

Providing funding for the acquisition is Bank of Scotland (led by Peter Smith), who also funded the recent MBO and YFM Private Equity (Nigel Barraclough). YFM’s Barraclough will be joining the EVision board as a non-executive director. DTE Corporate Finance, (Matthew Beckley) carried out the financial due diligence on behalf of the founders.

Intuita clients include household names such as Wates, Bovis Homes, Carillion and Skanska. Skanska has just awarded a £2.5m five year contract to Intuita for the supply of financial and operational systems.