Planit Holdings, a CAM/CAD specialist, has been bought by a management buy-out team in a public to private deal worth £40.9 million. The buy-out team was backed by August Equity, which invested £14.2 million in the deal, after its ordinary shares were valued at 29p each.

Planit Holdings, a CAM/CAD specialist, has been bought by a management buy-out team in a public to private deal worth £40.9 million. The buy-out team was backed by August Equity, which invested £14.2 million in the deal, after its ordinary shares were valued at 29p each.

Private equity firm August, which specialises in making investments in the media, healthcare, technology and manufacturing industries, formed Velocity Acquisitions to complete the deal, which is its first public-to-private transaction.

Velocity Acquisitions’ financial adviser was KPMG Corporate Finance, while PricewaterhouseCoopers assisted Planit.

Planit develops and supports software for CAM for the woodworking, cabinet-making, engineering and stone industries.

The Kent-based company also specialises in CAD systems for retail design for kitchen and bathroom retailers and business management.
Mark Dunne