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Team advise Sanderson on £90m offer

A team led by Adrian Ballam is advising Sanderson on a £90m takeover offer.

US enterprise solutions firm Aptean is to acquire listed software firm Sanderson in a deal worth £90m.

Aptean Bidco will acquire the entire issued and to be issued ordinary share capital of Sanderson, which is Coventry-headquartered and has a large number of employees based at its Sheffield office.

Christopher Winn, Chairman of Sanderson, 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.”

Adrian Ballam, Partner at Schofield Sweeney, said "We are really pleased to support our longstanding client Sanderson Group plc on this transaction. This event is the culmination of many years of hard work as the board has successfully implemented its long term strategy, which is good to see has been recognised by a strong offer from an ambitious bidder."

In May Sanderson Group reported a revenue of £17.1m for the six months to 31 March 2019, up from £14.6m in the same period in 2018. Its pre-tax profits also rose from £1.4m to £1.9m.

In the 12 months to 30 September 2018, the company reported a revenue of £32m, up from £21.5m, and pre-tax profits of £3.2m, a rise from £27m.

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