Benchmark International has advised on the transaction between bespoke software provider, Richlyn Systems, and Sheffield-based Pennine Holdings.
Established in 1983, Richlyn Systems is a specialist software and web developer, providing industry tailored software development, standalone software packages and contractual software maintenance to a diverse range of niche B2B clients in industries such as commercial property, health, manufacturing and distribution.
Pennine Holdings focuses on acquiring and developing IT related businesses with a view to creating synergies and improving performance.
Paul Sykes, Pennine Holdings chief executive, said: "We identified Richlyn Systems as an ideal acquisition target as it has a blue-chip client base. The software solutions it has developed will enhance the range of services that the enlarged group can offer ensuring that the group can continue to deliver cutting edge solutions to its client base. It is our aim to further invest in the combined business to deliver long term growth."
Benchmark International would like to thank all parties involved and we wish them all the very best of luck for the future.
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