Sanderson pays £14 million for company

Sanderson, the Rotherham-based software and IT services group, has made its biggest acquisition since floating on the Alternative Investment Market nearly two years ago.
By The Newsroom
Published 18th Sep 2007, 10:39 BST
Updated 19th Sep 2007, 13:02 BST

The Parkway-based company has agreed to pay up to 14 million for Retail Business Solutions.

Milton Keynes-based RBS was formed in 1988 and is a well established retail sector IT supplier, with products that include front and back office electronic point-of-sale systems.

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RBS employs 74 people and has approximately 200 customers throughout the UK and Ireland, including Blacks Leisure, Harrods and French Connection.

Sanderson says Richard Goodall, who has led RBS since 2000, will continue as managing director.

Executive chairman Christopher Winn said: “This is the latest in a series of investments in our multi-channel retail division which will now account for approximately 80 per cent of the Group’s revenues.

“We have made good progress in this active sector and the acquisition of RBS will expand our product portfolio, increase our customer base and provide trading synergies within the Group. We are confident that RBS will make a significant contribution to Sanderson in the future, providing new revenue streams and greater market opportunities.”

The total initial consideration for the acquisition is 12.275 million in cash, of which 9.225 million will be funded by way of additional bank borrowing.

Related topics:SandersonRotherhamMilton Keynes