ACS looks North for £14.5m Compass deal
MANAGEMENT software business Compass Computer Consultants has been bought in a £14.5m deal.
The firm, based in Frodsham, near Chester, has been acquired by Surrey-based Advanced Computer Software (ACS) which specialises in business and management healthcare software.
In March ACS spent £110m on Knutsford-based Computer Software Holdings which provides accounting and back office software to professional services firms and the not-for-profit market.
Compass specialises in record management and customer relationship software and supplies around 80% of the UK’s colleges and universities. Stock market-listed ACS said it will become part of its business solutions division which works with 2,000 local authorities, academies, schools, colleges and universities.
Compass was set up in 1988 and is owned by 20 shareholders. The largest stakes are held by Beverley and Richard Mitchell and Michelle and Michael Davies who have around 40%. In the year to July the firm had revenues of £5.7m and earnings before interest, tax, depreciation and amortisation (EBITDA) of £3.3m.
Chief executive Vin Murria said: “This earnings enhancing acquisition is complementary to the group’s existing education sector offering. It provides us with greater critical mass and a broader product range for the growing education market in the UK.
“Significantly, in line with previous acquisitions, Compass has high levels of long term recurring revenue and offers considerable opportunity for cross-selling Group products and services.”
