Clearwater have advised software solutions developer Kirona, on its acquisition of scheduling software business Xmbrace.
Kirona Group, the software solutions developer, has acquired dynamic scheduling software business Xmbrace Limited in a deal advised on by Clearwater Corporate Finance.
Founded in 2001, Watford-based Xmbrace supplies dynamic scheduling software to local authorities, registered social landlords and private maintenance contractors for responsive repair operations.
The transaction is Cheshire-based Kirona’s first acquisition since LDC invested in the business in 2011, backing the management team’s focus on organic growth alongside a targeted acquisition strategy.
Kirona, headquartered in Alderly Edge, develops field force automation software solutions for a wide range of industries across the public and private sectors. It employs 33 people and has more than 200 customers.
Clearwater partner and head of the TMT team Carl Houghton and manager Andy Strickland provided financial advice to Kirona and LDC on the deal. This is the second time Clearwater’s TMT team have advised Kirona, having advised on LDC’s multi-million pound investment in the company last year.