Benchmark International has advised on the transaction between cloud-based CRM developer, BrightOffice, and ClearCourse Partnership, a group of technology companies, for an undisclosed sum.
BrightOffice was founded in 2004 and has developed a customisable, cloud-based software platform through which it delivers specialised CRM products for around 300 clients across a variety of sectors.
ClearCourse is a growing partnership of innovative technology companies providing membership and payments software platforms to groups, organisations and small businesses. A highly acquisitive company, BrightOffice marks ClearCourse’s 14th acquisition since October 2018 and the second CRM purchase after it acquired not-for-profit CRM Protech earlier this month.
ClearCourse has the financial backing of Aquiline Capital Partners, a New York and London-based private equity firm with AUM of approximately $3.5bn.
With ClearCourse’s backing, BrightOffice will receive strategic and operational guidance, as well as financial resources to support further product development and market growth. The company will gain access to proprietary technologies from across the group, including payments processing capabilities and best in class data validation.
BrightOffice’s dedicated management team will continue to run the company, led by its founder, Paul Groome.
On the transaction, Mr Groome said: “We chose the right partner in Benchmark International, and we are very grateful for the work done by everyone in the team.
We are also lucky that we found the best of buyers whose approach to the process and strategic fit made the experience much easier for all parties involved.”
James Robinson, Associate Director at Benchmark International, added: “It has been an absolute pleasure working with Paul and co-Director Billy Price, as well as the team at ClearCourse, and I’m delighted for all on completing the deal. BrightOffice has achieved great success to date and no doubt will continue to go from strength to strength with the additional support from ClearCourse.”
On behalf of everyone at Benchmark International, we would like to wish both parties every success for the future.
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