Clearwater completes its first deal on day one

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CSC, a global provider of software solutions for structural engineers, with offices in Leeds and Birmingham has undergone a management buy-out for an undisclosed sum, with funding provided by the Bank of Scotland in Birmingham.

The MBO was led by Mark Roberts who now takes on the role of managing director for CSC. Roberts, who was sales director with CSC said: “The new management team are relishing the opportunity to further develop the business, supplying integrated software solutions with our emphasis upon quality customer service. CSC is a preferred supplier to most of the notable names in the industry and we look forward to their continuing support.”

Over 3000 companies worldwide use CSC software applications, which cover all aspects of structural engineering including technical calculations and analysis, structural design, 3D modelling, drawing and information management. Established in 1975, CSC has a £4 million turnover, employs 60 people and has offices in the UK, North America and Asia.

The Birmingham office of CLEARWATER, which after its MBO last week has now become the largest, independent mid-market corporate finance house in the UK, advised CSC. The CSC deal completed on day one of CLEARWATER trading as its new entity.

Phil Burns, joint managing director CLEARWATER said: “MBOs like this are our favourite. Putting managers like Mark and his team where they belong in charge of their own destiny is as good as corporate finance gets.”

The MBO team were advised by lawyers Lupton Fawcett in Leeds with Last Cawthra Feather in Bradford providing legal advice to the vendors.