Software provider to accelerate growth plans with private equity investment
A South West-based software provider has secured investment from Kester Capital.
Headquartered in Exeter, Re-flow is a rapidly growing provider of field service management (FSM) software to the critical infrastructure industry.
Re-flow helps its customers operate more efficiently by improving control and communication between field-based workers and head office, leading to cost-reduction and better service delivery.
Kester said Re-flow is well positioned to capitalise on strong market growth, principally driven by increasing need and uptake of FSM software. Kester’s investment will enable Re-flow to accelerate its organic growth trajectory, support investment in new product development and go-to-market, and strengthen its presence in the UK and internationally.
Mike Saunders, CEO and co-founder of Re-flow, said: “This investment marks the next exciting stage of Re-flow’s journey. We were very impressed with Kester’s deep sector knowledge, value creation track record and reputation, and are looking forward to partnering with their team to seize the great opportunity we have ahead of us.”
Cameron Crockett, managing partner of Kester Capital, said: “We are delighted to announce our investment in Re-flow, an exceptional software business operating in a highly attractive market. Mike, Lee and the team have built an outstanding business and we are very much looking forward to partnering with them to help realise Re-flow’s full potential.”
EY’s M&A team in the South were lead advisors and tax advisors to the shareholders of Re-flow.
Matt Eves, EY’s head of M&A for the South, said: “It was a pleasure supporting Re-flow secure its investment from Kester Capital. This new partnership will support Re-flow in the next phase of its rapid growth.”
Advisers to the transaction:
Buy-side:
KPMG (M&A advisory)
Simmons & Simmons (legal)
Grant Thornton (financial)
Fairgrove Partners (commercial)
BDO (tax)
Code & Co and ReThought (technology)
Catalysis (management)
Sales Blueprint (GTM)
Management:
EY (M&A & tax advisory)
Roxburgh Milkins (legal)
