Software consultancy Propel completes its first acquisition after purchasing Prime Systems
Moore Barlow’s corporate team has advised the management team of software consultancy Propel on its acquisition of Prime Systems, a trading style of Acclaim Safety Systems Ltd, for an undisclosed sum.
Propel, which was formerly known as Pace IT, is a software consultancy with offices in Yorkshire and Hertfordshire. Led by Managing Director Andy Brown and Co-owner/Director David Ritchie, Propel is looking to drive scale across the UK and expand into the software-as-a-service market. The acquisition of Prime Systems is the first of its buy-and-build growth strategy.
Headquartered in Berkhamsted, Hertfordshire, Prime Systems is a software company that specalises in risk management, health and safety and business control products. Its online systems enable businesses to comply with health and safety policies and insurance requirements, whilst effectively embedding their own policies and procedures throughout their organisations.
Its software is used by a broad range of clients across sectors including retail, leisure and logistics, and in becoming part of the Propel group it will have the resource and investment to expand its product suite. Prime Systems’ existing management team, led by Managing Director Paul Ramsell, will continue to drive the business forward and the company will also retain its brand identity.
Commenting on the acquisition, Andy Brown, Managing Director of Propel, said: “Prime Systems is a fantastic business with an excellent product, and we’re thrilled to be welcoming the team into the Propel group. This is the first of a series of planned acquisitions that will accelerate our growth strategy by enabling us to offer existing and new customers a more integrated solution.”
The deal was led by Jeremy Over, Partner in the corporate team at Moore Barlow, and supported by Sara Mullen.
Sara Mullen, Solicitor at Moore Barlow, added: “It’s been a pleasure to support Andy, David and the team at Propel on their first acquisition. There are strong synergies between the two companies and I’m looking forward to seeing the group develop as it embarks on the first stage of its buy-and-build strategy.”
The 22-strong corporate team at Moore Barlow is one of the largest in the South of England. With offices in Guildford, Southampton, Lymington, Working, Richmond and London, the team supports clients in London and along the M3 corridor, as well as around the South Coast.