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Sanderson Group to be acquired by Aptean

The acquisition of a listed software and IT services business which has worked with the likes of Tottenham Hotspur, Hotel Chocolat, Superdry and Tunnock's is set to be completed on Monday 9 September.

Sanderson Group received the offer earlier this year from software counterpart Aptean which has its main base in Atlanta, Georgia and was formed in 2012 after the merger of CDC Software Corporation and Consona Corporation.

A team led by Adrian Ballam is advising Sanderson Group on the acquisition.

Under the deal, Aptean Bidco will acquire the entire issued and to be issued ordinary share capital of Sanderson while each shareholder would receive 140p per share. The recommended acquisition valued Sanderson at £90.1m.

The deal has received court sanction and is now expected to be effective from Monday 9 September.

Coventry-headquartered Sanderson Group, which also has offices in Sheffield, Rossendale, Bristol, Belfast and Birmingham, was founded in 1983, employs about 320 people and has in the region of 800 customers.

In August, chairman Christopher Winn said: "The board of Sanderson is unanimously recommending this offer to shareholders, viewing it as an endorsement of the board's strategy and achievement of its execution to date.

"Considerable shareholder value has been delivered by a progressive dividend policy over the years and this offer now enables shareholders to realise the rewards for their patience, support and investment over the past few years."

If you are looking for an adviser to help develop your business, contact the corporate team on 0113 849 4000.