MBO completed at software firm SRO SolutionsLast updated on: January 19, 2017, Author: R Sahota
Eccles-based software business SRO Solutions has undergone a management buyout. SRO has been taken over by the company’s operations manager Andrew Carrie and technical manager and managing director Tony Lackey, while Steve Driver becomes non-executive director.
The new management team says their move is designed to maximise the current growth potential. The MBO was brokered by law firm Berman’s and funded by NatWest for an undisclosed sum.
SRO is an accredited IBM Gold partner specialising in enterprise asset management solutions through IBM Maximo and its syster company DXSTRO.
The firm sells and implements IBM Maximo enterprise asset management software including full implementation, support and maintenance, system upgrades, data migrations, training, development and process re-engineering.
SRO was established in 2006 by Driver and Lackey and serves a global customer base of mostly mid to larger corporations across many sectors including oil and gas, nuclear, utilities and facilities management.
Lackey said: “Our aim now is to continue this growth particularly internationally. In 2017 we’re opening an office in Atlanta to support our local partners in the US. Currently 25% of our revenue comes from America and we are looking to drive growth.”
Jon Davage, a corporate partner in North West law firm Bermans’ Manchester office who led the Bermans legal team which included Robin Hastings and Neil Mumford, said: “SRO is a fast-growing business.
“Tony is very experienced and has a great vision for the business and by maintaining Steve as a Non-Executive Director and mentor the business has a clear and bright future.”