Princelet Partners acts as sole corporate finance advisor to Service Works Group Ltd. on the 194m SEK sale of 100% of their share capital to Addnode Group AB.
Princelet Partners, a leading corporate finance firm specialising in mergers and acquisitions, acted as the sole finance advisor to Service Works Group (SWG), international provider of facilities, property and workplace management software, on their incorporation into Addnode Group.
Working with SWG from an early stage in the negotiations, Princelet Partners employed their considerable experience of information technology and strategic insight during the process to ensure a deal that met the objectives of both SWG and Addnode Group.
Addnode Group is a leading European supplier of software and services for design, construction and product data information to over 600,000 engineers and administrators. Both companies have a wealth of experience and technical expertise, which will combine to greatly benefit both customers and companies. Addnode’s Design Management division has a strong service and software offering for facilities, property and workplace management software in the Nordic countries under the brand Symetri. SWG and Symetri will work together on a global basis to service a rapidly expanding market with software and services.
Gary Watkins, who founded SWG comments:
“Having carefully reviewed the market, we believed Addnode Group presented the best strategic partnership because we share a similar ethos and vision. Princelet Partners provided invaluable expertise during the process and their hands-on approach, created a smooth acquisition process.”
“We are delighted to have worked with the team at SWG. The company has made very impressive progress and we look forward to observing their continued success in the future as part of Addnode Group.”
Stephen Moore, Managing Director, Princelet Partners.
SWG designs, develops, implements and supports its own software for over 1,000 customer sites across the globe. Its two applications are QFM – designed for the traditional facilities management (FM) market and P3rform, to manage the performance of operation and maintenance (O & M) Public Private Partnership (PPP) contracts. The company with 71 employees was founded in London and has operations in the UK, Australia, Canada and the Gulf states.
For more information about SWG please visit www.swg.com
About Addnode Group
Addnode Group acquires, operates and develops entrepreneur-driven companies that supply software and services to markets in which we have or can achieve a leading position. They are one of Europe’s leading suppliers of software and services for design, construction and product data information, and a leading supplier of document and case management systems to public sector clients in Sweden and Norway.
We have 1,300 employees in Sweden, Austria, Denmark, Finland, Germany, India, Norway, Slovakia, UK, US and Serbia. Net sales in 2016 amounted to SEK 2,195 M. Addnode Group's Series B share is listed on Nasdaq Stockholm.
For more information, please visit: www.addnodegroup.com