Schofield Sweeney has advised Sanderson Group plc on a £1.9 million share acquisition of Proteus Software Limited.
Sanderson - which specialises in multi-channel retail and manufacturing markets in the UK and Ireland - will pay an initial payment of £1,400,000 on completion and a deferred consideration of up to £500,000 in 2016 depending upon certain performance criteria being met in the 12 month period to 5 December 2015.
Proteus, based in Solihull, is a provider of specialist warehouse management software to businesses operating in the areas of third party logistics, warehouse management and supply chain distribution.
Advice was provided by Adrian Ballam, with support from Lucy Holroyd from the Corporate team, John Feaster from Private Client services and Gill Farry from the Commercial Property team.
Sanderson Group plc is headquartered in the West Midlands and has an office in Sheffield. Proteus Software Ltd is based in Birmingham.
Commenting on the acquisition, Christopher Winn, Chairman, said:
"Proteus is a complementary acquisition for Sanderson and the Proteus products and customers will complement the Group's own products, services and customers within its multi-channel retail and manufacturing businesses. We are delighted to welcome the Proteus team to Sanderson and we look forward to working together to further develop the business in the future."