Riverside Partners With Brookson
Firm Invests In UK-Based Provider Of Services For Sole Proprietors
The Riverside Company has invested in Brookson Group Limited (Brookson). Based in Warrington, UK, Brookson provides tax management, invoicing, cash management and financial back office services for self-employed contractors and micro businesses.
Using a cloud-based SaaS platform called Brookson Connect, the company offers its customers comprehensive real-time data on their businesses’ financial and management information. The company serves a large, highly compensated UK contractor base working across a wide range of industries, including engineering, healthcare, IT, and other professional services. With its market-leading technology and a high level of customer service, Brookson maintains among the highest customer retention rates and longest tenured customer bases in the industry.
“Brookson provides the best service of its kind in the industry, and we strongly believe there is ample room to expand thanks to growing demand in an underserved market,” said Riverside Partner Dr. Martin Scott.
Brookson Connect is a platform that works on multiple devices and does more than provide a look into the finances and operations of a business. Through the Connect platform, Brookson is able to efficiently deliver the highest level of financial and accounting services – including bookkeeping, accountancy, tax advice, insurance, and other legal and support services – to a large and growing population of self-employed contractors and micro SMEs. This service is more comprehensive and mobile than traditional high street accounting services. Accessible anywhere and anytime, it is also more cost effective, making it a compelling offering to its customers.
Riverside anticipates growing Brookson by capitalizing on its strong services and sales and marketing efforts, adding new features and services, and expanding the footprint both organically and through strategic add-on acquisitions.
“The Brookson board chose to partner with Riverside because they have the ideal expertise, experience and financial strength to support the next stage of our journey through the various key strategies we are committed to,” said Brookson Managing Director Martin Hesketh. “We firmly believe that Riverside is the perfect partner for the Brookson business in this regard, and we are very excited by the opportunities that lie ahead of us.”
Riverside has completed more than 45 transactions in its Software and IT Services Specialization since 1988.
The deal team on the transaction included Scott and Senior Associate Alex Goins. UK and Ireland Origination Thomas Seddon sourced the opportunity for Riverside.
Grant Thornton provided financial advice to Riverside on the transaction.