Quantuma lead advisory services on the management buyout of supplier of editorial and advertising management software
Business advisory firm Quantuma provided lead advisory services on the management buyout of Miles 33 Group Ltd (‘Miles 33’) from Ares Capital. The deal was backed by Ethos Partners and Santander.
Founded in 1976 and based in Bracknell, Miles 33 has established itself as a leading supplier of editorial and advertising management software to the media and publishing industries. In addition, Miles 33 also provides wider corporate marketing automation software to agencies. With a comprehensive suite of products and solutions on offer, Miles 33’s solutions enable clients to perform a variety of different actions across both print as well as digital channels.
Priding itself on offering fully integrated solutions that allow clients to achieve considerable cost and time-savings, the management team, led by Mike Moore, is well positioned to attain its growth plans supported by Ethos Partners. Growth will be driven by the further roll-out of the recently developed Gemstone software as well as increasing sales of its Wave2 software in the wider corporate market.
The United States is seen as a significant growth opportunity, with Miles 33 already counting The Boston Globe, Maine Today Media and Record Journal amongst its clients. The business has offices in in the US, Italy and Malaysia as well as its Bracknell HQ, and employs over 80 people, generating EBITDA in excess of £3m.
The Quantuma team led by partner Ian Barton and director Adrian Howells provided advisory services to the management team, including identifying both their equity partner in Ethos as well as debt funding from Carmen Peacock and Peter Abel of Santander.
Quantuma is a leading business advisory firm which has strengthened its corporate finance practice during 2018 supporting mid-market clients and investors looking for lead and debt advisory services. Recent transactions, which together exceed £200m in value, include the disposal of TRS to an MBO backed by Rutland Partners, the disposal of ILG to Yusen Logistics, the disposal of BOFA International to Donaldson and 2 acquisitions by Whistl in the delivery and e-fulfilment sectors.
Ian Barton: “This deal highlights the benefits of partnership and tenacity by both funders and management to deliver this transaction. Having advised the management team prior to their first buyout in 2005, I have seen the management team develop its software and geographical footprint and adeptly position the business as one of the global market leaders in its product offering. Quantuma are delighted to have helped management achieve its ambitions alongside Ethos in their first investment.”
Mike Moore, Chief Executive Officer at Miles 33 said: “We are looking forward to the next chapter in Miles 33’s history to roll out our new products to provide best in class solutions and service to our customers. We expect to see a new phase of growth organically and we will continue to look at acquisitions to expand our reach. After a period of ownership transition, we are delighted to have true long term funding partners who are keen to support our strategy.”
Julian Carr, Principal at Ethos Partners said: “Quantuma have provided fantastic support and demonstrated a real depth of insight into and understanding of the business drawn from Ian Barton’s long association with the team since 2005 which enabled us to appreciate the potential of the business and also to raise debt funding for the MBO in short order from Santander. We really appreciated the consistent advice and support to get the deal to a close and look forward to working together again.”
Andy Haywood, MC2
0161 236 1352
Notes to Editors
Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. Offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol, Manchester, Ringwood and Weymouth. In July 2018, the firm opened two international offices in Cyprus (Nicosia and Paphos).