Knutsford-based Computer Software Holdings (CSH) has been sold by private equity firm HgCapital to Surrey-based AIM-listed Advanced Computer Software Group.
CSH is a leading provider of accounting and back office software to the UK professional services market (legal and coroners) and customer relationship management software for the not-for-profit market.
It also provides accounting software to SMEs, as well as mobile solutions for field services operations. Based at Booths Park, the group's ebitda in the year to the end of December 31 2012 was £13.2m on revenues of £61.5m.
Some 85% of the total is recurring revenue (contracted and repeating), of which £40m is contracted recurring revenue with a further £12m of non-contracted repeating revenue.
Led by chief executive Neal Roberts and chairman Nick Discombe, CSH has around 650 employees with offices across the UK, USA and Ireland, serving 12,000 customers. It was acquired by HgCapital in 2011 as part of its purchase of Iris Software Group. Since then, CSH has been separated from Iris and run as an independent business.
Source: The Business Desk
