Better Capital-backed Calyx makes two bolt-ons

Jon Moulton's private equity fund Better Capital has advanced portfolio company Calyx Software £6 million to make two strategic, bolt-on acquisitions.

The deal will create the UK’s largest Microsoft Dynamics GP reseller with more than 500 customers.

The first acquisition is for part of a division of Touchstone Group, which is a supplier of integrated business software products to mid-sized UK organisations. According to a statement from the firm, the division had unaudited turnover for the financial year ending 31 March, 2011, of £3.2 million.

The second acquisition is for the entire issued share capital of Trinity Computer Services Holdings. Trinity is a developer of wholesale and distribution application software products, utilising Microsoft Dynamics GP as the core finance system, for mid-sized UK organisations. Trinity’s audited turnover for the financial year ending 30 September 2010 was £2.9 million.

Moulton founded business turnaround specialist Better Capital in 2009 after leaving Alchemy Partners.

Better Capital bought Calyx, a provider of managed information and communications technology services in the UK and Ireland, from administration in September 2010. The firm committed £22.5 million to finance the debt acquisition, the purchase of the business and assets and to fund the restructuring and working capital requirements.

Todd Cardy

Todd Cardy

Todd was Editor of between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.

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