Automotive tech firm sold in international deal
Leeds-based firm enquiryMAX, a supplier of showroom software solutions to the automotive retail industry, has been sold to a global counterpart.
The business, which supports motor dealerships across the UK to maximise opportunities, streamline the sales process and deliver best practice, has been acquired by Keyloop.
Keyloop, formerly known as the international division of CDK Global, is a global supplier of technology solutions to the automotive industry.
Its purchase of enquiryMAX, along with a second acquisition of multinational digital communications company RAPID RTC, is amongst the first actions Keyloop is taking since being acquired this week by Francisco Partners.
RSM and Knights have advised enquiryMAX on its sale to Keyloop.
The transaction was led by corporate finance partner James Wild, with support from Nick Wyatt, James Jarvis, and Josh Woodage.
Knights’ Corporate team led by David Easdown and supported by David Hayes and Ryan Tweedale provided legal advice on the transaction.
Wild said: “Today’s strategic deal delivers a fantastic platform for enquiryMAX and Keyloop to enhance the product portfolio and increase the breadth of products on offer to customers; and it’s great to advise on another cross-border software transaction to support future growth for an ambitious tech business.”
David Easdown, partner at Knights, added: ‘We are proud to have worked in partnership with enquiryMax throughout the course of this pivotal transaction.
“Keyloop is now well positioned for future growth in the UK and internationally; we wish them every success.”