Maven Capital Partners (“Maven”), one of the UK’s most active investors in growing businesses, has today announced its profitable exit from award-winning Customer Relationship Management (“CRM”) software provider ProspectSoft through a sale to trade acquirer The Access Group. The sale has generated an initial 2.0x return for Maven Investor Partners, which could increase to 2.9x dependent on certain conditions being met through an earnout agreement.
The transaction represents a partial exit from the wider ProspectSoft group. However, the Zing division, a Twilio services specialist, does not form part of the exit, and Maven investors have retained their interests in Zing following a demerger of business.
Maven originally led the management buyout of ProspectSoft in 2017, to help drive commercial traction for its innovative B2B CRM platform which primarily supported wholesale, distributor & manufacturing businesses.
In recent years, ProspectSoft’s SaaS product has delivered impressive growth and now integrates with a number of leading stock management systems and ERP providers. The group has also been successful in entering new overseas markets and has a fast growing presence in Australasia.
Tom Purkis, Partner at Maven said: “The sale of ProspectSoft represents a good return for our investors. The business has performed well in recent years through continued investment in the product, optimising the strategy and the hard work and dedication of the management team. It has been great to see the SaaS product achieve strong growth in so many different markets.
"The sale to The Access Group is a complementary fit for ProspectSoft, offering significant opportunities to cross sell which will provide both parties with the ability to further accelerate ARR. We wish the company well as it embarks on the next stage of its growth journey.”
Andy Ardron, Founder and CEO of ProspectSoft said: “I’d like to take this opportunity to thank Maven Capital Partners, who have played a big part in our success over the last five years – from the initial funding of our management buyout in 2017, to supporting the ongoing growth of ProspectSoft Ltd, and financing a spin-out venture (Zing Dev Ltd) in 2019. We now look forward to further accelerating our growth and success from within the Access Group.”