Deal Details

Bowmark Acquires Majority Stake in Turnkey

Technology & Services

Bowmark acquisition of majority stake in Turnkey

Summary

Bowmark Capital LLP (“Bowmark”) has acquired a majority stake in Turnkey IPS (“Turnkey”). Turnkey’s management team also remains significantly invested in and committed to the business. Terms of the transaction were not disclosed.

Baird served as the exclusive financial advisor to Bowmark on this transaction.

About

Bowmark is a European-focused private equity firm that helps enterprising managers build exceptional businesses. Bowmark invests in services and technology companies with the potential for significant organic and investment-led expansion, investing up to £300 million per transaction to support growing companies seeking a genuine partner to realise their ambitions. Founded in 1997, the firm manages and advises funds of over £2 billion. Bowmark is headquartered in London, United Kingdom.

Established by Dr. Barry Wood in 1980, Turnkey has grown to become the market leader for corporate restructuring and insolvency software, providing solutions to over 300 clients, from sole practitioners to international accounting firms, spanning 10 jurisdictions worldwide. The business is growing recurring revenues at over 20% per annum, driven by client demand for greater efficiency, the accelerating adoption of digital technology and legislative compliance. Turnkey is headquartered in Glasgow, Scotland.

Technology & Services

Bowmark acquisition of majority stake in Turnkey