Magma have successfully advised ENSEK, a leading software supplier to UK energy providers, on their Private Equity backed buy-out.
Together with legal firm Spearing Waite, Magma played a leading role in designing and structuring the deal, which will assist the business into the next phase of its exciting growth. The deal was backed by Lloyds Development Capital (the private equity arm of Lloyds Banking Group).
Headquartered in Nottingham, ENSEK provides a market-leading, software-as-a-service (SaaS) platform to a large and growing proportion of the UK energy market suppliers. Growing from nothing in 2010, the company now has a 27-strong customer base, annual revenue growth in excess of 100% and an employee base of 65 people.
Mark Tuckwell, Partner, added “We have worked closely with ENSEK for four years and this transaction is a great mark of their success to date. I have no doubt that, supported by LDC, the talented team at ENSEK and their unrivalled market proposition will mean a really bright future for the business”.