A management buyout means that the commercial division of builders merchant software solutions company ADP is back in private ownership.
The management buy-out is headed up by group managing director, Ian Bendelow with funding from NVM Private Equity.
The new company – Kerridge Commercial Systems, is a market leader in the development and provision of trading and financial software environments for specialist distribution, wholesale, merchant and retail industry sectors.
It will continue to be responsible for product research and development, sales, marketing and support from its existing offices in the UK, Ireland, South Africa and the Netherlands.
Bendelow said: “We have operated as a semi-autonomous business unit within ADP and ultimately this has provided us with the opportunity to acquire the business. Our products have a very successful track record, they are well respected throughout the various markets that we support and we are extremely proud of the excellent reputation that we have as a class-leading supplier. This position has come about through the hard work and dedication of our talented and experienced staff. The IT business is a people business and we have a team with the ability, commitment and confidence to take our new company and its products forward. We will develop a future strategy which will be focused on the specialised needs of our customers and make the best use of the technologies that are available to us.
“We have briefed many of our customers about these important and exciting changes and the reception has been positive. We plan, that before too long the benefits of our new strategies will be in place for our customers to take advantage of.”