Eque2, the
leading software provider for the construction industry, is delighted to
announce the acquisition of CLiPIT Solutions, the Yeovil-based company that
specialises in fully-integrated construction accounting and job costing
software solutions.
Established
in 2002, CLiPIT provides construction accounting software which manages a
construction company’s job costing, CIS, applications, accounts, retentions and
payroll. The acquisition of CLiPIT brings together two strong companies and
further strengthens Eque2’s status as the leading provider of construction
accounting and job costing software solutions, taking its customer count up to
2,300.
Speaking
on the acquisition, Justin Moule, Managing Director, Commercial at Eque2, said:
“The acquisition of CLiPIT has provided an excellent opportunity to acquire the
skills, knowledge and technology of a company that shares the same aspirations
as Eque2.”
Peter Davidson Managing Director, Operations at Eque2 added:
“CLiPIT customers can expect business as usual in terms of talking to the same
support team, but can also look forward to the benefits of being part of Eque2,
and the additional resources, knowledge and investment in product development
they will now be exposed to.”
With offices across the UK, Eque2 Ltd is an established Microsoft
and Sage business partner, and is a specialist in its provision of software
systems to the construction, contracting and house building industry.
It is supported by private equity partner LDC, which backed the
firm in a £16m deal in November 2017 to help accelerate the firm’s growth
strategy and buy-and-build programme.
John Clarke, investment director at LDC in the North West, said:
“This latest acquisition cements Eque2’s position as the leader in its field,
further enhancing its customer proposition. We look forward to continuing our
collaboration with the team to continue to unlock new opportunities for growth
and expansion.”
Dave Graham and Catriona Laing from Dow Schofield Watts provided
Corporate Finance and Financial Due diligence support respectively, with Legals
provided by Rebecca Grisewood and Kate Richards of Gateley Plc
