CFO & More guides sale of fintech developer to ASX 250 buyer in £23 million deal
CFO & More is delighted that Bravura Solutions is to acquire Delta Financial Systems Limited (Delta).
CFO & More acted as advisors to Delta throughout the M&A process, covering activities including;
§ Creation of the business plan and robust forecasts;
§ Collation, analysis and comparison of offers received from numerous interested parties;
§ Creation, population and management of the comprehensive Dataroom;
§ Management of the due diligence process;
§ Working alongside both Seller and Buyer legal teams to offer detailed, constructive input into and challenge of the Share Purchase Agreement; and
§ Full management of the Share Sale project.
We would like to thank the team at Bravura for ensuring the process was as straightforward and efficient as possible, allowing the transaction to be delivered within the desired timeline.
Delta’s product offerings are a perfect complement to Bravura’s existing capabilities and we are confident that this transaction will be a tremendous success, benefiting the existing clients of both Delta and Bravura as well as new customers and, most importantly, the end retail consumer.
Michael Power, CEO of Delta Financial Systems commented on CFO & More’s role and involvement…
“Prior to the approach from Bravura, CFO & More was working closely with Delta to help us clarify our strategy and translate it into a comprehensive business plan. As well as focusing the direction of the business, this was instrumental in articulating the value of Delta both internally and to the external parties who expressed an interest in acquisition.
From receipt of several indicative offers through to execution of the sale to Bravura, CFO & More provided valuable management and oversight of the project as well as strong leadership of the constructive, commercial and pragmatic engagement between Delta as sellers and Bravura as buyers. I was particularly impressed with CFO & More’s knowledge of the M&A process and their ability to cut through the complex legal contracts to identify and resolve the critical issues, ultimately facilitating a successful sale of our business .”
Nigel Liddell, General Counsel Global D&I Lead at Bravura Solutions…
“As buyers we were impressed with CFO & More’s intricate knowledge of both the business and the financial plan, as well as their efficient and organised co-ordination of the due diligence process. Their professional and pragmatic approach to negotiation aided smooth interactions with both seller and external solicitors, facilitating a straightforward exchange in line with the timescale desired by both parties.”