SSG Insight: Yorskhire-based software comapny bought by US tech firm for undisclosed sum
Yorkshire software firm SSG Insight has announced that it has been bought by a US-based tech firm for an undisclosed sum.
Wakefield-based SSG Insight is a provider of software solutions which are designed to manage and optimise enterprise asset management.
The company was acquired by tech firm Aptean, which is headquartered in Alpharetta, Georgia, and has offices in North America, Europe and Asia-Pacific.
The firm provides artificial intelligence-driven enterprise resource planning solutions, and aims to help manufacturers and distributors to “effectively run and grow their businesses”.
Mike Edwards, CEO of SSG Insight, said: “We are delighted to join a global organisation like Aptean, where together we can continue to develop and deliver innovative enterprise asset management solutions to the market.
“The combination of our businesses offers an exciting opportunity for SSG Insight’s future growth given our shared commitment to the long term success of our products and customers.”
Accountancy and business advisory firm BDO LLP has advised on the sale, with its Northern Corporate Finance team acting as lead sell-side advisor to SSG Insight.
BDO provided lead advisory mergers and acquisitions services to the shareholders of SSG Insight, as well as tax and financial services.
The deal team consisted of mergers and acquisitions partners, Jason Whitworth and Eleanor Fearne and Olly Morris.
Mr Whitworth said: “The sale of SSG Insight to a global leader is an excellent regional deal that not only demonstrates the opportunities that exist in the current market, but also the continued attractiveness of UK companies to overseas buyers – both trade acquirers and PE-backed businesses looking for high-growth and dynamic targets.
“We are delighted to have advised SSG Insight – a deal that further strengthens our position in the technology sector.
“The acquisition will immediately extend Aptean’s geographical footprint in enterprise asset management and will provide exciting growth opportunities for SSG Insight.”
Founded in 1983, SSG Insight provides Agility, a “mission-critical suite of enterprise asset management solutions”, designed to manage complex challenges across global sites, including lifecycle management, workflow automation, condition monitoring, contract and vendor management, and advanced analytics.
Walker Morris’s John Hamer, Charlotte Bontoft, Holly Ter Bruggen and Chloe Smith were legal advisors on the deal, with Dan O'Connell and Stuart Bristow from Gallaghers providing mergers and acquisitions insurance services.
BDO LLP operates in 18 offices across the UK, employing 7,500 people offering tax, audit and assurance, and advisory services.
Globally, the firm provides business advisory services in 166 countries and territories, with more than 115,000 people working out of 1,776 offices worldwide.