PEMCF advises on MBO of Alacer Software from Lifecrown
Alacer Software directors Rob Day and Shaun Aldridge have acquired growing hospitality software provider Lifecrown through a management buyout.
Based in Bourn, Cambridge, Alacer is a national supplier of software for the hospitality industry. This market-savvy provider has developed a range of applications that can be either integrated or used alone, thus enabling Alacer to offer tailored packages to each client.
The software seamlessly covers all aspects of a hotel system, due to the applications operating from a single database. The business now anticipates growth as it rolls out a hosted, cloud-platform service in tandem with its existing solutions. With Gartner forecasting that cloud computing will become the bulk of new IT spend by 2016, the new team is poised to start an exciting phase of activity for Alacer.
The buyout team acquired the company from Lifecrown Investments Limited, a group focused on food- and agriculture- based businesses.
Following a strategic review it was felt that Alacer’s software business was a non-core activity and that it would prosper better as an independent entity.
Rob Day said “We have a market-leading product, and as an independent business we now have the flexibility and focus to ensure we continue to provide quality solutions to new and existing customers alike. PEMCF really understood our business model and their advice allowed us to get to where we are now.”
Lake Falconer of PEM Corporate Finance, which advised on the deal, added: “We’re delighted to have assisted in the management buy-out of Alacer Software. Rob and Shaun have got real direction for the future of the company and we wish them every success.”
Legal advisers to the deal were Nigel Moore at Buckles, Peterborough, for the buyout team and Greenwoods for the vendors.
• PHOTOGRAPH SHOWS: Alacer MD Rob Day