Sat, 12 Sep 2020 | BUSINESS SALE
CRM platform FLG has been acquired by ClearCourse Partnership LLP for an undisclosed amount, in a deal quite remarkable in that it was negotiated and concluded entirely remotely.
Founded in 2007 by John Jackson, FLG Business Technology Ltd has built a reputation as one of the UK’s leading CRM platforms for businesses wishing to automate lead management without changing sales processes.
FLG employs 11 staff across product development, support, onboarding, and marketing in its two offices in Padiham and Manchester. The company has a proven track record serving the financial services industry, with clients including Creditfix Ltd, Etico Group Ltd and TFS Loans Ltd.
In its last filed accounts to 31st August 2019, FLG Business Technology Ltd recorded net current assets of almost £1.8m, up 53 per cent on the previous year.
The buyer, ClearCourse Partnership LLP, is a group of innovative technology companies providing useful, integrated software solutions. This deal marks the 18th acquisition to date for ClearCourse, which is backed by Aquiline Capital.
Gerry Gualtieri, CEO of ClearCourse, commented: “CRM is a core component of ClearCourse’s growing portfolio of complementary software companies, so we’re delighted to welcome FLG on board.
We look forward to working with the management team to realise operational synergies, enhance client acquisition, and streamline online marketing efforts. We have worked closely with John Jackson throughout the acquisition process and we are highly impressed by the great business and team he has built over the years.”
The deal was brokered by Bath boutique corporate adviser Lucas & Weston Ltd. Howard Weston, MD of Lucas & Weston, commented “This was very much a first for us, as the whole deal, instigated at the height of lockdown in late May was concluded remotely. We only ever met the buyer and seller online. Quite remarkable but it shows that deal making is still possible during these challenging times.”
“This is our fourth deal to complete during the lockdown following the acquisition of Mutts & Hounds back in June. There is strong investor demand for quality businesses with a sustainable future which is encouraging to see.”
John Jackson, Founder and Managing Director of FLG Business Technology Ltd, commented: “ClearCourse has an excellent reputation in the CRM industry for creating new opportunities and driving operational growth. Like ClearCourse, FLG was founded with the ambition to do things differently and better, and the synergies between the two companies will ensure a successful future for both. I look forward to seeing where they take the business in the coming years.”
FLG’s founder and Managing Director, John Jackson, will be leaving the Company, whilst all other staff will remain in place, ensuring operations continue as normal, maintaining critical client and customer relationships.
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