Catapult secures exit from Systems Integration through Management Buy-Out
Catapult Ventures (“Catapult”) today announced that it has sold its stake in Lichfield-based Systems Integration (Trading) Ltd (‘S.I’) to the company’s management team.
Catapult invested in S.I in 2009 alongside the directors of the business and private investors to capitalise on new market opportunities in the UK and US food processing industries for the company’s leading-edge software product, ‘Integreater®.’ Integreater is an enterprise resource planning (ERP) system which gives food processors greater control of key elements of their production process, including stock levels, traceability and management of costs and margins.
The exit provides an excellent return of 4.9x the total investment for Catapult’s Advantage Enterprise & Innovation Fund (“AEIF”).Launched in 2005, AEIF provides growth capital to innovative West Midlands based businesses.
Building on a long and successful history, the investment has enabled S.I to grow its market share in the meat processing sector, whilst attracting new customers in cheese production and fish processing.
Jonathan Lowe, Head of Investor Relations at Catapult, said, “We are delighted that Systems Integration has continued to go from strength to strength. Since we invested in 2009 the business has made great progress and has an excellent reputation in the industry, which is a tribute to the quality of their hugely experienced management team. We wish them every success as they continue to grow the business.”
Rob Stephens, Managing Director of S.I, said “Over the last six years, Catapult have been very supportive investors and with their help we have been able to make significant progress. The team and are I are looking forward with great optimism to the continued success of our business.’’