Planit Holdings ("Planit") develops and supports Computer Aided Manufacturing ("CAM") software and services for the woodworking, cabinet-making, engineering and stone industries.
The management buy-out of Planit, which was August Equity's first Public-to-Private transaction, has allowed the company to grow recurring revenues and enhance its strategic positioning. Planit is currently the fourth largest player for CAM worldwide.
In February 2008 Planit sold its retail division, Fusion, to 20-20 Technologies Inc for £19 million. The sale of Fusion, which specialised in Computer Aided Design solutions for the retail industry, was in line with the original MBO strategy, and focused Planit on the faster growing CAM market.
The management team consists of Bryan Pryce, chief executive, Jonathan Lee, finance director, Patrick Love, director sales and services, and Russell Franks, chief technology officer. Richard Moon, former chairman of Vivista and Securistyle, both previous August Equity portfolio companies, joined the team as chairman.
2006
Management buy-out completed with August Equity
Richard Moon appointed as chairman
2007
Appointment of Gia Campari as change director
Reorganisation from multiple company structure into three divisions, Wood, Metal and Retail.
2008
Sale of its retail division, Fusion, to 20-20 Technologies Inc
Recapitalised, repaying £12.3 million of loan stock plus interest
CEO Bryan Pryce Named Entrepreneurial Dealmaker of the Year