CSC
Another serial client of Clearwater’s, CSC’s latest buy-out follows an MBO on 31 March 2003 - a nostalgic date for Clearwater as they completed their own MBO on the very same day.
CSC is the global leaders in the provision of quality software, training, consultancy and technical support to many thousands of structural engineers throughout the world. As well as its Pudsey headquarters, CSC has offices in Singapore, Malaysia, Australia and Chicago and now employs over 70 people. Its products include Fastrak, Orion and TEDDS.
Founded in 1975 as a subsidiary of a Civil and Structural Engineering Consultancy CSC became independent in 1987 following their first management buyout. Two subsequent buyouts have taken place, with the 2003 MBO led by current managing director Mark Roberts, aged 44.
When Roberts was looking recently for a financial partner to support CSC’s strategic plans, principally through further product development, further geographic expansion into the USA and Asia and, where appropriate, acquisition he sought advice once again from Clearwater.
Clearwater’s advice resulted in ISIS Equity Partners and Yorkshire Bank providing a package of replacement and expansion capital, with the creative deal structure also achieving a partial equity release for existing shareholders and incentivising new management.
On the deal, Roberts commented:
"After advising on our buyout five years ago, Clearwater continued to stay in touch post transaction. With this and their tech credentials it was not a difficult decision to appoint them.
The Clearwater team were always very helpful, extremely knowledgeable and made every effort to ensure that the transaction progressed as smoothly as possible. Clearwater managed all parties, ensuring they all pulled in the same direction and importantly retained a sense of balance when things got fraught.
In the end, the whole process was relatively painless. Clearwater engineered a fair deal for all parties involved and have made a significant contribution towards creating a fantastic opportunity for CSC moving forward.
Having completed my second transaction with Clearwater I would not hesitate in working with them again and indeed look forward to doing so."
CSC is the global leaders in the provision of quality software, training, consultancy and technical support to many thousands of structural engineers throughout the world. As well as its Pudsey headquarters, CSC has offices in Singapore, Malaysia, Australia and Chicago and now employs over 70 people. Its products include Fastrak, Orion and TEDDS.
Founded in 1975 as a subsidiary of a Civil and Structural Engineering Consultancy CSC became independent in 1987 following their first management buyout. Two subsequent buyouts have taken place, with the 2003 MBO led by current managing director Mark Roberts, aged 44.
When Roberts was looking recently for a financial partner to support CSC’s strategic plans, principally through further product development, further geographic expansion into the USA and Asia and, where appropriate, acquisition he sought advice once again from Clearwater.
Clearwater’s advice resulted in ISIS Equity Partners and Yorkshire Bank providing a package of replacement and expansion capital, with the creative deal structure also achieving a partial equity release for existing shareholders and incentivising new management.
On the deal, Roberts commented:
"After advising on our buyout five years ago, Clearwater continued to stay in touch post transaction. With this and their tech credentials it was not a difficult decision to appoint them.
The Clearwater team were always very helpful, extremely knowledgeable and made every effort to ensure that the transaction progressed as smoothly as possible. Clearwater managed all parties, ensuring they all pulled in the same direction and importantly retained a sense of balance when things got fraught.
In the end, the whole process was relatively painless. Clearwater engineered a fair deal for all parties involved and have made a significant contribution towards creating a fantastic opportunity for CSC moving forward.
Having completed my second transaction with Clearwater I would not hesitate in working with them again and indeed look forward to doing so."
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