Acquisition for PE-backed field service management provider
Tue, 24 Sep 2024 | BUSINESS SALE
Joblogic, a field service management solutions provider backed by private equity firm Axiom Equity, has acquired long-term competitor Clik Software. Joblogic said that the deal positions it as the "largest provider of field service management solutions in the UK".
The deal is Joblogic’s second major transaction since a cash-for-shares injection by Axiom Equity, following its 2023 acquisition of Protean Software. The deal forms part of the group’s UK and international expansion plan.
The acquisition was funded from internal cash flow and a line of credit provided by funding partners CIBC (Canadian Imperial Bank of Commerce). Following the transaction, Clik’s customers will continue to be supported by Joblogic, with the teams reportedly already collaborating.
James Whatmore, Chief Executive of Joblogic, described the deal as “a strategic step that aligns perfectly with our plans to expand in the UK FSM market”, adding that the group had targeted Clik for “a number of reasons, including our aim to grow the team by attracting top talent and our deep respect for Clik's accomplishments.”
Whatmore continued: "Clik's customer-first approach mirrors our own, and their client base is similar to ours, giving us confidence in a seamless integration. We're already working on the cloud launch of Clik's electronic certification software, and are excited to provide their customers with innovations and new functionality to their current products.
Paul Snowden, Clik's founder and Managing Director, said that the deal “allows Clik toâ¯become part of the largest FSM software solution provider in the UK, bringing innovative cloud software to our customers,â¯whilstâ¯also adding moreâ¯developmentâ¯resources to our existing products."
He added: "We share common values and together we holdâ¯decadesâ¯of expertise in the FSM and certification software marketplace, giving us collectively a very strongâ¯portfolio of both products and services to offer existing and future clients.”
Find out more about the trends that could drive private equity dealmaking over the coming months
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