ISIS sells Micro Librarian Systems

ISIS Equity Partners has sold Stockport-based Micro Librarian Systems (MLS) to Capita for an undisclosed sum.

MLS provides library and resource management systems to the UK education sector.

ISIS invested in MLS, on behalf of its clients the Baronsmead VCTs, in July 2006 to fund a secondary management buyout.

It will continue to operate on a stand-alone basis with support from Capita. ISIS said turnover had doubled since 2006 and the deal represented an exit of 2.8 times the investment and an initial rate of return of 20% to the Baronsmead VCTs.

MLS managing director Andy O’Brien said: “ISIS has been an excellent investor and incredibly supportive since its investment in 2006 and has enabled the management team to realise our vision for MLS. Together with the team at MLS, we have created an exciting and innovative business that is well positioned for continued growth both in our core UK market and overseas under the new ownership.”

Bevan Duncan, investment director, ISIS Equity Partners, said: “Over the past six years, the business has maintained its relentless focus on enhancing its range of products to ensure they continue to be at the forefront of the library automation market.”