Rory O'Sullivan
Managing Director and Co-head of Kroll’s Technology M&A Practice
London
Partnering With Leading SaaS Company to Complete a Lucrative Sale
Discover how Kroll steered the board of a leading SaaS company towards a lucrative sale through running a buy-and-build strategy on the buy-side and a dual-track growth equity and M&A process on the sell-side.
The Challenge
The Challenge
Brightpearl is an enterprise resource planning (ERP) software product designed to help online and in-person retail organizations streamline operations. The Brightpearl board sought a financial advisor to guide the company through the next phase of its ownership and development. Brightpearl was looking for an advisor with multi-faceted advisory capabilities to help the board navigate towards a sale and attract potential buyers.
Kroll's Solution
The board was seeking an advisor with capabilities across a range of different transaction outcomes, as well as global reach to access buyers and investors in the US, Europe and Asia. Importantly, the board preferred an advisor with a deep understanding of the sector in which Brightpearl operates.
Kroll's ability to run a dual-track growth equity and M&A process, and to assist management's buy-and-build strategy, made us an attractive partner. Kroll's additional Transaction Advisory Services resources was important to support the team in the highly pressured and contested closing of a sale transaction.
Kroll advised the company across three transactions – growth equity, M&A buy-side and M&A sell-side - as enterprise value tripled over 12 months. Having agreed terms on a transaction following a highly competitive sell-side process, we were able to introduce and collaborate with the Kroll Transaction Advisory Services team to help deliver a signed transaction within a compressed six-week timeframe.
The Impact
The Impact
The impact was dramatic. The Brightpearl business was sold to Sage for $360 million. Brightpearl sold at a price reflecting the company's improved value which exceeded shareholder expectations.
This is a great example of how Kroll can maximize value and deliver fantastic outcomes for our clients.
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