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

Alexandre Mesguich

Change is order of day as tech giants shift strategy gears
Partnership

Frank Jennings

Confused? No problem, we have 5, no 6, no 7... lots of standards

Chris Mellor

VC sequence could end not with a bang, but a whimper
Sad man stares glumly over boxed contents of desk. Image via shutterstock (Baranq)

Features

Roll up, roll up, get your exclusive market insights
Wile E. Coyote goes over the edge again
money trap conceptual illustration
Big boys snare the unwary with too-good-to-be-true deals
Angus Highland cow
Pet carriers not wanted for whitebox stampede