Cheshire procurement tech experts undergo MBO
Cheshire-based Inprova, a technology and data enabled procurement services business, has undergone a management buyout.
The MBO has been supported by investment from private equity form NVM.
Inprova has more than 30 years’ experience of transforming procurement in the public, private and third sector.
Through its use of technology, procurement analytics and category expertise, it enables organisations to enhance their procurement capability.
The management buyout has been led by group CEO Steve Malone and his senior team. Steve has been with Inprova since 2008, moving to the group CEO role in 2020.
The investment from NVM will enable the business to further develop its technology platform and procurement analytics capabilities to deliver enhanced value-added services to its customers addressing key category areas of construction and capital works, responsive and planned maintenance, building safety and net zero carbon.
The transaction, which is NVM’s third new investment this year, follows the backing of YorkTest in July and Easby Group in March and has been led by Andy Leach and Oliver Wildig from NVM’s Manchester office, supported by Mauro Biagioni, James Bryce, Simon John and Sam Sinclair.
Steve Malone said: “We have ambitious plans to build on the strength of our existing technology platform alongside our category expertise and experienced procurement resource, creating sustainable value and supporting our customers to deliver on their business goals.
“Working with NVM will provide us the opportunity to deliver on our vision and accelerate growth in both new and existing categories and markets. ”
Andy Leach, Investment Partner ay NVM said: “Inprova’s tech-led platform is the heartbeat of the business, driving efficiency, transparency and compliance for customers. With new investment, a highly experienced management team and its existing technology at its core, Inprova is well positioned for considerable future growth.”