The need for a single system that all suppliers can access remotely is behind the success of this business. Clients include Microsoft, the NHS and McAlpine, who used the software in the building of the new Emirates Stadium for Arsenal FC.
August Equity, which led the buy-out of North East-based 4Projects in July, found the business's pure multi-tenanted software as a service proposition over the past six years and impressive revenue growth track record particularly attractive. Following completion of the deal, August Equity appointed Stephen Edwards as chairman. Edwards has extensive experience in helping software companies grow quickly.
Richard Vertigan, founder and managing director of the business, wanted to work with August Equity because of its deep understanding of the sector. "We welcome both August Equity's and Stephen's enthusiasm and experience to help us develop the business," he said. "Together we look forward to an exciting future."
Fraser Davidson, an investment director at August Equity, believes that 4Projects is well placed to win more business from new and existing clients. "Not only is the sector expected to deliver strong growth, but there are also multiple international, vertical and diversification opportunities readily accessible to the business," he said.
Current chairmen of our portfolio companies include Sir David Arculus at Boat International, Richard Moon at Planit and Stephen Edwards at 4Projects. But we are always on the look-out for high-calibre business people with boardroom experience to expand our network of potential chairmen. "We're looking for objective decision-makers and entrepreneurs with proven leadership qualities and a wealth of experience - particularly in M&A and private equity," said August Equity portfolio director Martin Horne.
Potential candidates will be invited to various events - such as our next Chairman's Curry Club, to be held on October 2 - in order to network with the investment team and current portfolio chairmen. Log on to augustequity.com/events
If you or someone you know would be interested in becoming a chairman of one of August Equity's deals please email: Portfolio Management.
Claremont has 26 registered beds within a modern purpose-built unit. Planning permission has been granted for an additional 24-bed extension. "This recent acquisition has increased Healthcare Homes' critical mass to almost 700 beds across 17 homes," said chief executive Richard Clough. The company, created by Clough and fellow professional care industry managers Graham Lomer and David Bates, has, over the years, developed a reputation for high-quality delivery.
The Claremont deal is the latest follow-on acquisition for Healthcare Homes since its original management buy-in was completed in August 2005. Since that time, August Equity completed the £37 million transaction and led a further funding round of £30 million in May 2006. "This will help to consolidate the position of Healthcare Homes as a leading provider of high-quality care," said Philip Rattle, a partner at August Equity, who sits on the board of Healthcare Homes. "It also demonstrates the support that August Equity brings to its portfolio companies to ensure they realise their growth ambitions."
Download a complete copy of this issue (where available):
