Wed, 14 Feb 2024 | MBO/MBI
Praxis42, a risk management and training consultancy based in Suffolk, has been acquired in a management buyout. The MBO at the technology-led firm, which provides compliance support for businesses ranging from SMEs to large corporates, was supported by Forward Corporate Finance, with funding provided by Triple Point.
The management team, comprised of CEO Julian Roberts, Digital Managing Director Tom Paxman, Commercial Director Shane McAllister and Consulting Managing Director Adam Clarke, has acquired the business from founders Keith Paxman and Mike Stevens.
Paxman and Stevens founded the business more than 20 years ago, with Julian Roberts and Shane McAllister joining in recent years through a joint venture called ComplyNet. The founders will step back following the MBO, enabling the new management team to drive Praxis42’s next stage of growth.
Tom Paxman said: "Rob and Will at Forward assisted us to agree the headline deal, ran an extremely impressive process to attract the right funding partner in Triple Point, kept us all on track through a few bumps in the road and got the deal done we have had in the pipeline for some time now."
CEO Julian Roberts commented: "Forward have been instrumental in getting us to the point where we know we can grow the business, whilst making sure the founders are paid for their many years of hard work."
Forward Corporate Finance Manager Will Neill added: "The management team had been effectively running the business for some time now, and the founders plus management just needed some guidance and hand holding through the MBO process."
Commenting on exiting via and MBO, founder and ex-chairman of Praxis42 Keith Paxman said that he “couldn’t dream of this sort of exit” when the business was first founded. The deal comes at a time when alternative exits, such as MBO and employee ownership trusts, are increasingly popular, as owners seek exit strategies that can more effectively preserve their company’s culture and workforce.
Read more about the growing popularity of MBOs
A prestigious law firm with an expert team, offering unparalleled opportunities in mergers and acquisitions, banking, and financial law.
This independent financial advisory firm is jointly owned and are looking at business succession planning for when one of the directors decides to fully retire in 2-3 years’ time whilst the other director is looking to stay on post sale as an adviser...
A directly authorised IFA firm with a well-placed office location has a team of advisers, both financials and mortgage as well as support staff. They place high emphasis on client service and providing long term financial planning to support their cu...
01
|
Apr
|
Law firms merge to create regional powerhouse | MERGER
A Lincolnshire and Yorkshire law firm have announced they ar...
01
|
Apr
|
Jackson Jackpot falls into administration | ADMINISTRATION
Online competition business Jackson Jackpot Ltd has gone int...
01
|
Apr
|
UK administrations: March 26 – April 1 | ADMINISTRATION
Since our last update, the following businesses have been co...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.