Fresh produce and food chain IT specialist Anglia Business Solutions Ltd has announced the completion of a £6 million management buyout.
Robert Frost, the group chief executive, led the team of six behind the buyout. Anglia’s management team along with WestBridge Capital, The Co-Operative Bank and a US investor group affiliated to The Giumarra Companies; one of the US’s largest fresh food producers provided the funding for the deal.
Following the investment, Anglia announced it will accelerate its growth in the UK and internationally, as well as underpinning its strategy to continue investing heavily in the development and support of LINKFresh; its award-winning, business-management software solution. This will include the continued support and development of solutions across all of Microsoft’s technology platforms including Microsoft Dynamics NAV and the further development of LINKFresh on the Microsoft Dynamics AX Platform. Anglia said this strategy will enable it to target all companies, large and small, within its chosen market or sectors.
Speaking at the completion of the transaction Robert Frost said: “This is fantastic news for Anglia and represents the next chapter in our growth strategy. I am extremely fortunate to work with such an experienced management team and highly skilled, dedicated staff. We are excited to be driving the business forward to reach and exceed our goals, guided by the invaluable advice provided by our investors.”
Guy Davies, managing partner at WestBridge Capital said Anglia was an ideal investment: “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. Anglia has exciting plans afoot, not least of which will be growing its presence and market share in the US where food traceability legislation is catching up with Europe. This provides the perfect opportunity for the company to grow market share with its suite of Microsoft supported products, which are already tried, tested and proven.”