Inflexion Private Equity, a mid-market private equity manager, has led a £12 million (€18 million; $24 million) management buyout of Tekton Group, a software provider to the UK construction industry. It is Inflexion’s second transaction in a month following the £13 million management buyout of Autocruise, a UK motorhome manufacturer, underlining the firm’s focus on its buyout business.
The Tekton buyout also includes the acquisition of SiteStream, a specialist house builder services business.
Inflexion has invested £4.6 million in the company, according to a statement, while the management invested an undisclosed amount. HSBC provided £5.3 million of debt facilities.
Clearwater Corporate Finance, BDO Stoy Hayward, Huntor Consulting and Grant Thornton provided financial advice. Legal advice came from Addleshaw Goddard.
Tekton Group has three arms: Intuita, a construction industry-focused software supplier; EVision, a Scottish business information provider and CIT, a valuation services provider.
Inflexion Private Equity is a mid market manager specialising in UK buyout transactions of proven businesses with typical enterprise values of between £10 million and £50 million.