Gambit Corporate Finance has acted as lead advisor to the shareholders of MWC Partners on its sale to Vesta Software Group.
Founded in 2013 by Steve Watson and David Mahoney, MWC Partners have brought together retail store systems with a design, develop and support service for Global Payment Service Providers.
Vesta Software Group operates more than 30 independently-managed software brands around the world, providing them with the strategic guidance and financial security required to be leaders in their respective markets. It supplies industry leading enterprise management software and related services to more than 50,000 customers worldwide across dozens of varied industry verticals. Vesta is wholly owned by Constellation Software Inc. (TSX:CSU) through the Jonas Software operating group.
Gambit Corporate Finance acted as lead advisor to the shareholders of MWC Partners on initiating, negotiating and structuring the transaction. The Gambit team was led by Sam Forman (Partner) and Harrie Thorrington (Manager).
Steve Watson and David Mahoney, MWC Partners’ founders, said:
“When we founded MWC Partners 11 years ago we had a vision of delivering market-leading solutions and services into the retail sector and we have been proud of our achievements to date. We have also developed, during this same period, a widely recognised expertise in integrating POS solutions with payment software, which has resulted in our working with many of the world’s largest PSPs.
“Deciding to move to the next phase of the company’s evolution was made easier by Vesta’s style and vision for the future. Our goals, ambitions and values are very much aligned, and we are confident that with Vesta’s backing, we will continue to grow and offer the same level of services to our existing customer base and into new markets.”
Sam Forman, Partner at Gambit Corporate Finance said:
“We are delighted to have acted for the shareholders of MWC Partners on this transaction which further evidences Gambit’s strong credentials in the Software & IT Services (“SITS”) sector and supports our position as one of the UK’s leading advisers in the space.
“Steve, David and the MWC team have built a market leading business, now firmly established as one of the key providers of mission critical point of sales solutions, retail services and payment connectors to clients across the UK and internationally. As part of Vesta Software Group, we look forward to seeing the company go from strength to strength.”
Harrie Thorrington, Manager at Gambit Corporate Finance added:
“This transaction is a testament to the buoyancy of the SITS M&A market. UK SITS M&A activity has remained resilient in the face of a more a challenging macroeconomic environment, with volumes over the last 12 months far exceeding the pre-pandemic levels of 2019. With interest rates forecast to soften and the growing confidence among entrepreneurs and chief executives in the sector, we are optimistic that volumes and valuations will continue to improve in the second half of 2024.”
