An acquisitive Nottinghamshire software company has commenced its first acquisition of the year.
The firm has acquired Irish company Scannell Solutions for £3.5 million, furthering its ambitious expansion plans.
Acquisition Details
The Nottinghamshire software company has effectively broadened its portfolio by acquiring Scannell Solutions, an Irish firm specialising in providing Software as a Service (SaaS) solutions. Scannell Solutions is known for its environmental health, safety, quality monitoring, and auditing services. This strategic move aligns with Nottinghamshire firm’s growth objectives and strengthens its position in the SaaS market.
Company Background
The acquiring company has shown robust performance over the last fiscal year, with revenues reaching £36.1 million. It offers a range of software services focusing on safety, quality, and document management. The company is not new to acquisitions, having completed several transactions in both the United States and the United Kingdom in 2018.
Client Portfolio
The firm’s reputation is bolstered by its prestigious clientele, including major airlines such as Ryanair and AirAsia. The latest acquisition, Scannell Solutions, also boasts an impressive client list, serving high-profile companies like Coca Cola, Johnson&Johnson, BT, and Heineken.
This diverse client base underscores the reliability and quality of the services offered by both companies, making the new acquisition a promising venture.
Executive Statements
Ben Dorks, Chief Executive of the Nottinghamshire firm, expressed his enthusiasm about the acquisition, stating, “I am delighted to announce the acquisition of Scannell Solutions Ltd. The company is a leader in terms of Environmental Health, Safety and Quality solutions, which it offers via a SaaS platform, so this will enable us to grow both our SaaS capabilities and accelerate our EHSQ offering.”
Geoff Spiers of Scannell Solutions was equally optimistic, commenting, “Scannell Solutions Ltd is delighted to be joining the firm. By coming together, we will have the opportunity to significantly grow the customer base for our Environmental Health, Safety and Quality solution.”
Employment Impact
Scannell Solutions currently employs 15 people. In contrast, the acquiring company is nearing a workforce of 500, indicating its expansive scale. This acquisition not only strengthens the company’s market position but also has the potential to create job opportunities and stimulate further growth.
The integration of Scannell Solutions into the larger organisation may offer new career pathways for employees and enhance skill development through resource sharing.
Future Prospects
Looking ahead, the Nottinghamshire firm aims to leverage the newly acquired SaaS capabilities to expand its Environmental Health, Safety, and Quality (EHSQ) solutions further. This acquisition is viewed as a strategic step towards achieving more comprehensive service offerings and penetrating new market segments.
The firm is likely to focus on enhancing its software suite to meet the evolving needs of its clients, thereby maintaining its competitive edge in the sector.
The strategic vision of integrating Scannell Solutions into its portfolio aligns perfectly with the company’s long-term growth objectives.
Financial Considerations
The £3.5 million deal reflects a calculated investment aimed at enhancing the company’s service capabilities. Given the acquiring firm’s substantial revenue and history of successful acquisitions, this financial outlay is projected to yield significant returns.
Such strategic investments are critical in maintaining the firm’s strong market position and continued growth trajectory.
Conclusion of Deal
The completion of this deal marks an important milestone for the Nottinghamshire software company.
This acquisition is representative of the firm’s commitment to growth and excellence in the software and SaaS sectors.
This acquisition marks a significant milestone for the Nottinghamshire software company.
With the successful integration of Scannell Solutions, the firm is poised for further expansion and innovation in the SaaS and EHSQ sectors.
