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Sintons and Tait Walker advise on Datawright sale
A North-East accountancy practice and law firm have worked together on the sale of an IT business.
A team from accountancy firm Tait Walker, headed by corporate finance partner Michael Smith, brokered the sale of Datawright to Berkshire-based Kerridge, which is backed by NVM Private Equity. Tait Walker, which has offices in Stockton and Newcastle, supported Jim Symonds when he led a management buyout of the business in 2006.
"It was great to advise Jim and his team on the sale to Kerridge," said Mr Smith.
"Their new partners have great plans to introduce Datawright's manufacturing ERP system to its substantial client base, which will help the business go from strength to strength. The Datawright team are to be complimented for growing the business so strongly throughout the MBO period."
Legal advice to the sellers was provided by Newcastle-based Sintons, led by Adrian Dye, an associate in the commercial group. Sintons advised the MBO team and have now taken their role full circle, advising on the disposal.
Mr Dye, who has led the team advising Datawright for several years, said: "Since acting on the buyout we have seen Datawright go from strength to strength and have built a close bond with the business and its management team through the finance, commercial and other work which we have undertaken for them."
Founded in 1979, Datawright's two main products are the Kingfisher Enterprise Resource Planning System Software, which is used in the manufacturing and chemical sector, and its Snap Invoice Management System.