Supporting Software Circle with their ambitious buy-and-build growth strategy
Software Circle live and breathe software. They’re serial acquirers of vertical market software businesses. They provide software designed for specific sectors. These include healthcare, education, financial services, property and care management.
We took the time to understand their business by regularly visiting the team in person. That way we were able to better understand their needs and long-term strategy. They wanted to accelerate their pace of growth, but knew their current facilities could hamper this. It was clear from Iain Brown, and his team, that they wanted to feel truly listened to.
The Santander team were excellent throughout the process. They listened, took the time to understand Software Circle's business model and funding requirements, and designed a facility that will help us achieve our long term goals.
Chief Financial Officer, Software Circle
Having built a strong relationship, and by listening to their needs, we knew we could help them. We could see what they needed to achieve their growth ambitions. So, we provided them with a tailored funding package. This included a £25m Revolving Credit Facility, with a £10m uncommitted accordion option.
This scalable credit limit means they can continue to buy high quality businesses. And it gives them the speed and flexibility to act when the right opportunities arise. Moving forward, they want to nurture the businesses they buy and maintain a position as long-term owners.
Software Circle has a clear approach to acquiring and nurturing specialist software businesses. Having taken the time to understand their business model and the ambitions of Gavin, Iain and the wider management team, we’re delighted to support the next phase of its growth with a flexible funding structure designed around its long-term strategy.
Director of Structured & Specialist Finance, Santander
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