Birmingham-based software provider ProTech Computer Systems is looking to expand after management took full control of the company in a share buy-back.
The deal was put together by the Midlands office of national audit, tax and advisory firm Crowe Clark Whitehill with a finance package provided by NatWest Bank.
Founded 18 years ago by managing director Mark Trouth, ProTech has 25 employees and specialises in the not-for-profit and education sectors.
Clients include the ICAEW, Chartered Management Institute, Chartered Institute of Marketing, The Hurlingham Club and The Salvation Army.
ProTech Computer Systems’ flagship product Pro-8 is designed to manage all of the business functions undertaken by membership, charity and education organisations through one central knowledge base. The integrated suite has proven to be an invaluable solution for improving subscription renewals, member retention and generating substantial reductions in overall operational and management costs.
The company’s progress was boosted in 2000/2001 by an injection of funding through then regional development agency Advantage West Midlands’ Advantage Technology Fund, largely provided via venture capitalists including 3i and the Royal Bank of Scotland.
Now the residual venture capital interests remaining, representing about ten per cent of the business, have been bought back by the company.
The reorganisation paves the way for ProTech Computer Systems to move forward including the option to seek additional financial backing.
Mr Trouth, who has been 25 years in the industry, said: “The company is now 100 per cent owned by the management. It gives us the option to seek extra investment in order to further develop Pro-8.
“Crowe Clark Whitehill have been instrumental in arranging the buy-back which also removes a layer of administration and related cost.
“Ownership has been returned to management and key development staff – the key stakeholders in the company’s future stability and success. We have the freedom to embark on cutting edge development of the Pro-8 software including mobile technology.”
Crowe Clark Whitehill managing partner Johnathan Dudley said: “ProTech Computer Systems are a go-ahead business which has built up an unrivalled expertise and an impressive base of clients.
“It is recognised as having an excellent track record in the more complex membership, charity and education management environments and can provide a more sophisticated and flexible system than other suppliers in the sector.
“We were very pleased to have been able to assist the firm. I believe they have an exciting future.”
ProTech Computer Systems’ services include project management, project scoping, configuration and development, consultancy, training and data migration.
While based in the West Midlands, it has a satellite office in London and operates throughout the UK and Europe.
It works closely with Microsoft, its platform provider, and prides itself on the longevity of client relationships.