The Channel logo

News

By | Paul Kunert 14th December 2012 12:02

Management gobble food-tracing-by-Microsoft firm Anglia

A 'hidden gem', salivates money man

The management at Anglia Business Solutions has completed a £6m buyout of the Cambridge-based Microsoft Gold partner.

The team behind the MBO was led by Group CEO Robert Frost and the funding was stumped up by the execs, alongside WestBridge Capital, The Co-Operative Bank and a US VC group.

Frost said in a canned statement the deal represented the "next chapter in our growth strategy".

The MBO follows the death of David Hurley in January after a "short illness". Hurley was one of the founding members of Anglia and subsequently became a director and major shareholder.

Hurley led the business for 15 years and it was his plan to develop LINKFresh - a management solution for the supply chain of the food industry based on Microsoft's Dynamics AX platform.

In another prepared statement, Guy Davies, managing partner at WestBridge Capital, said Anglia will try to bolster its foothold in the States "where food traceability legislation is catching up with Europe".

"This is the sort of hidden gem company we like to invest in - established, profitable and with huge growth potential, but in need of capital to implement its plans," he said.

In the year to 31 October 2011, Anglia sales fell to £4.9m from £5.18m in the previous financial year and operating profit fell to £589,750 from £942,596. ®

alert Send corrections

Opinion

Chris Mellor

How long before Blue Big HQ pulls the plug on the whole thing?

Chris Mellor

Drives nails forged with Red Hat iron into VCE's coffin
Sleep Cycle iOS app screenshot

Trevor Pott

Forget big-spending globo biz: it's about the consumer... and he's desperate for a nap

Features

Windows 8.1 Update  Storeapps Taskbar
Chinese Buffet self-service
Chopping down the phone tree to scrump low-hanging fruit
An original member of the System/360 family announced in 1964, the Model 50 was the most powerful unit in the medium price range.
Big Blue's big $5bn bet adjusted, modified, reduced, back for more
Microsoft CEO Satya Nadella
Redmond needs to discover the mathematics of trust