Altium has advised Brookson, a specialist accountant for contractors, freelancers and self-employed professionals, on its investment from private equity firm, The Riverside Company.
Brookson, which was first established in 1995, provides accountancy services including tax management, invoicing, cash management and financial back office services to over 10,000 self-employed professionals. The company covers a wide range of industries, including engineering, healthcare, IT, and other professional services. The business provides a multi-platform bespoke software-as-a-service (SaaS) product called ‘Brookson Connect’, which offers its customers comprehensive real-time data on their firms’ financial and management information.
The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued up to €200m. The business has 21 offices worldwide including London, New York, Seoul, Munich and Tokyo. The equity firm has a track record of investing in software provider businesses, having recently invested in Bohemia Interactive Simulations, a developer of games for training technology and interactive simulation systems sold to defence, emergency and mission-critical customers.
The investment from Riverside will help the business further develop its unique SaaS product by implementing new features and expanding the services offered. The investment will also give the business an opportunity to break into new markets through a combination of organic growth and the potential for further strategic acquisitions. This will help Brookson achieve its long-term ambition of becoming the main SaaS finance provider for self-employed professionals.
Simon Lord, Managing Director of Altium, said: “The process demonstrated that Brookson has a premium offering for its contractors in a thriving sector, evidenced by the company’s highly impressive recent growth. Brookson has developed an outstanding service via a market-leading platform with a management team of the highest quality, and in Riverside they have found the perfect investor to take the business to the next stage.”
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Altium berät Brookson bei Einstieg von The Riverside Company
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