August Equity has completed the acquisition of Business Systems UK Limited (“Business Systems”), the second investment from Fund V.
Business Systems is a specialist in Cloud Enterprise Communication Solutions, providing a suite of Contact Centre solutions including Call Monitoring & Compliance, Workforce Engagement Management and Contact Centre as a Service offerings to highly regulated enterprise clients. Business Systems has c.85 staff and over 170 customers with the largest being in financial services, insurance, healthcare and critical infrastructure. The business has developed its own voice compliance software tool, “WordWatch”, that is selling globally.
August worked with CEO Adam Kantor to identify an off-market opportunity with Business Systems, seeing the organic and acquisitive growth potential in the company’s core markets. Geoff Love, former Chief Executive Officer of business messaging specialist, Commify, joins as Executive Chairman. Alongside Management, August will create a UK sector leader whilst broadening services, expanding the technology vendor base and continuing to expand the customer base globally.
Business Systems is August’s fourth investment in the adjacent managed services sector following investments in cyber (SecureData), unified comms (Charterhouse Voice & Data) and cloud managed services (Air IT).
Mehul Patel, Partner at August Equity said “We are delighted to back the team in growing Business Systems to become a leading player in its market space. This platform has an opportunity to expand its customer base globally whilst investing more on higher growth segments such as CCaaS and its internally developed voice compliance management tool, Wordwatch. August has developed a successful playbook to develop managed services businesses through acquisition and organic strategies and create an outstanding business over the period of our ownership.”
Richard Muckle, Director, said, “We have been mapping and tracking the Enterprise Communications and Contact Centre market for over two years now. Business Systems, as a platform for growth, offers best-in-class solutions to highly discerning customers. We look forward to working with Adam and Geoff and to partnering with many more businesses who want to join us on this exciting journey.”
The deal team comprised of Mehul Patel, Richard Muckle, Filip Miljevic, and Katie Beckingham.