Round-up of today’s M&A deals
Private equity firm August Equity has disposed of its interest in Planit through a sale to Vero Software for an undisclosed amount.
Kent-based Planit provides CAD/CAM software for the manufacturing sector for industries such as engineering, sheet metal and metal fabrication.
August Equity originally completed the management buy-out of Planit in December 2006 when it invested £14.2 million in its first public to private transaction.
Bryan Pryce, chief executive officer of Planit, commented: ‘August Equity had the expertise and network to enable us to pursue our growth plans for the business.
‘Their involvement enabled us to refocus the business and concentrate on the core CAM market, which has proved a resilient sector. Vero Software is a great strategic partner for Planit, and together the combined business will be the largest in the specialist CAM market.’
Round-up of today’s M&A deals
- Virgin Media and Scripps complete deal for UKTV
Value: undisclosed
Advisers: undisclosed
- ACI Worldwide to acquire S1 Corporation
Value: £333 million
Advisers: undisclosed
