Sage (UK) Ltd has been serving the construction sector with industry-specific software since its acquisition of ATW Computer Services Ltd and the ‘Construct’ product in 2003. Over the last five years, Sage Construction, a business unit within Sage (UK) Limited’s Mid-Market Division, has focussed solely on this sector; developing, implementing and supporting construction and contracting software, and serving companies that have a turnover from £1 million right through to very large enterprises. Their products include Sage 50 Construction, Sage 200 Construction, Sage ERP EVision, Sage ERP Intuita, Sage Estimating and Sage Housebuilding.
As part of Sage (UK) Limited, Sage Construction has successfully traded despite the particularly challenging economic environment. However, while Sage has a generic focus across industries, Sage Construction specifically targeted the house building, construction and contracting vertical. The management buyout (MBO) therefore represents a fantastic opportunity for Sage Construction to offer even more focus to the industry and to further develop the Construction (formerly known as ‘Construct’) product as its own intellectual property. We are delighted to announce that the transaction was completed on 1st May 2013, with Sage Construction becoming ‘Eque2 Limited’.
Brendan Flattery, Sage’s CEO for UK and Ireland, is committed to this move as a positive step forward for both Sage and Eque2. As Sage’s preferred strategic business partner in the construction industry, Eque2 will continue to develop and work closely with Sage (UK) Ltd on the accounting products that form the backbone of Sage 50 Construction and Sage 200 Construction (now Eque2 products, to be known as ‘Construction for Sage 50 Accounts’ and ‘Construction for Sage 200 Accounts’).
The teams at Eque2 are committed to working with their customers and Uniq Systems as Construction-accredited Eque2 Business Partners, to co-innovate the future development of these products. Eque2 will be providing us with regular updates and training around upcoming releases so that we can pass this information on to you.
Eque2 has secured both continuity of management and people, along with investment in product development. Wes Simmons, Eque2’s Managing Director, has great confidence in Eque2 and in those who work within it; their expertise and understanding of customers’ needs through hundreds of combined man-years of contracting and accounting experience, mean they’re well placed for future growth and to share their industry knowledge with Uniq Systems. With the support of their investors, ISIS Equity Partners*, along with Richard Beaton** and the continued support of Sage and Microsoft as strategic business partners, the MBO allows Eque2 to further invest in developing their industry-specific portfolio of products and support services.
The team at Eque2 shares Sage’s values of Innovation, Integrity, Simplicity, Trust and Agility, and will continue to provide contracting-specific functionality. In addition Eque2 will be providing support to Uniq Systems’ work with construction companies. With Sage’s guidance in terms of adherence to standards and process, Eque2’s business has matured into one able to provide the software you expect in today’s modern commercial environment. With the continued support of Sage and their research and development spend on Sage 50 and 200 Accounts, Eque2 will have an even stronger focus on the construction and contracting industries and more control over the product roadmaps for Construction for Sage 50 and 200 Accounts.
The management buyout means that together, Eque2 and Uniq Systems are not only well-positioned to meet your requirements and service your needs, but also to further develop the Construction for Sage 50 and 200 Accounts products.
*ISIS is an independent private equity firm, investing in UK based growth companies with robust business models, typically valued from £5m - £100m, investing £2m - £40m in each business. Since 1995, ISIS has worked with over 100 businesses in a variety of situations, enabling founders to de-risk and realise some of their equity, management buyouts, management to buy equity, the funding and delivery of buy and build strategies and many more. Investment activity is focused in six sectors where ISIS has developed a deep understanding and strong networks. ISIS currently has £1.2bn funds under management (as at 31 December 2012).
**Richard Beaton was a founding shareholder of Tekton which was acquired by Sage (UK) Limited in 2008 to become Sage Construction. He therefore has a wealth of experience in the construction and contracting vertical. Richard has run market-leading software vendors in the UK for 25 years, previously founding and establishing 3 software companies which subsequently became market-leaders in their fields.