Micad Systems (UK) Limited (Micad), the leading Software as a Service (SaaS) property management and compliance solutions provider, has completed a sale of the business, backed by specialist technology investment firm Young Associates and the Micad management team. Financial terms of this transaction have not been disclosed.
Founded in 1987 by Andrew Terry, who will exit the business, Manchester-based Micad is a specialist in computer aided facilities management (CAFM) software. The software assists in the management and maintenance of large property estates to ensure that its clients remain in compliance with legislation and regulations that are imposed on managing the built environment.
Oaklins Cavendish, based in the UK, advised Micad on the transaction. Our team ran a competitive process which attracted a high level of interest from a number of financial investors. The team's specialist commented: “Micad is a fantastic company and a clear SaaS leader in web-based property management and compliance software. We are delighted to have facilitated the investment from Young Associates, which is the perfect partner for the management team to help drive the company’s future growth and further commercial success. There is still strong demand from buyers for SaaS providers with a particular expertise or market niche and vendors should give thought to finding the most appropriate partner to exploit the growing opportunities in the current market.”
Andrew Terry, Founder of Micad, commented: “Over the past 25 years or so the company has enjoyed strong growth and built up a very loyal client base of blue-chip customers. I wish management and Young Associates well as they take the company on to the next stage of its development and further success and would like to thank Oaklins Cavendish for doing an excellent job in facilitating the transaction.”
Lord Howard Leigh
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