Member Article

Lancashire software firm Tharstern completes MBO

Lancashire software firm Tharstern Ltd. has completed a management buyout with London’s Mobeus Equity Partners providing a combined debt and equity package to support the deal, introduced by KPMG Corporate Finance.

The transaction has been led by Keith McMurtrie, the managing director, supported by technical director Antony Lord and sales director Lee Ward and marks the fourth investment by Mobeus this year , taking committed capital invested to almost £21 million.

Established thirty years ago, Tharstern is a specialist software house supplying management information and workflow solutions to the global printing industry.

The Colne-based company employs 40 staff and has a turnover of £4 million. Its products are used by 7,000 customers worldwide.

Keith McMurtie, managing director of Tharstern Limited, said: “This is fantastic news for Tharstern, our loyal staff and customers, many of whom have been with the company for many years and who are vital to our continued success going forwards.

“The deal will provide security and continuity, and ensures that Tharstern retains its brand and identity as a recognised world leader within the printing and allied industries.”

Chris Price, investment director at Mobeus, said: “We are delighted to support an excellent team and to be involved with a business which has a strong reputation, built on its long history and expertise of providing management information software for the UK printing industry.

“We look forward to supporting Keith and his team as they seek to drive sales growth and widen Tharstern’s customer base both in the UK and overseas.”

Chirstian Mayo, Rick Stark and Cassie Ivel from KPMG’s Corporate Finance team in Leeds and Helen Ridge and Andrew Phillips from from Pinsent Masons in Manchester advised the vendor.

This was posted in Bdaily's Members' News section by Clare Burnett .