Law firm Mills & Reeve has advised Delta Financial Systems Ltd in a £23 million acquisition to Bravura Solutions.
The deal broadens both Delta and Bravura’s product and services to their client bases and enhances customer experience.
Delta Financial Systems Limited, based in Birmingham, is an award-winning software business that provides technology to power complex pensions administration in the UK market.
The company's highly-regarded products support the administration of self-invested personal pensions (SIPPs) and small self-administered schemes (SSASs), including the full range of complex client drawdown options available under the pension freedoms legislation. Delta’s technology currently supports the needs of more than 30 UK clients.
The acquisition broadens Bravura’s product suite with Delta’s products representing a natural extension to Bravura’s core Sonata offering and expand Bravura’s ecosystem of products and services. The acquisition also provides an opportunity to offer Bravura’s other products to Delta’s client base.
Dealing with a listed business in a highly-regulated sector and knowing that the sellers would continue to work within the buyer for the foreseeable future called for deep understanding of the important issues and the need to maintain forward momentum and collaboration with Bravura’s advisors.
Mike Power, CEO of Delta Financial Systems, said: “I thank Mills & Reeve for all their efforts in working with us to achieve this transaction. They provided valuable management and oversight of the acquisition process as well as strong leadership of the constructive, commercial and pragmatic engagement between Delta as sellers and Bravura as buyers. This acquisition is an important and exciting and step forward for Delta in supporting our valued clients.”
Peter McLintock, partner at Mills & Reeve’s Birmingham office, said: ““We have supported Delta from its early days and the end result of this acquisition was happy clients who are very satisfied with their deal and very excited about joining the buyer’s group."
Pictured: Peter McLintock
Pioneering initiative in Birmingham will help break the cycle of re-offending
Cities hit hardest by pandemic to see strongest growth, says report
Funding will help independent retailers and businesses bridge gap
Law firm advises on sale to industry giant
Firm funds university project in Uganda
Director, Bytesnap Design
Partner, Mills & Reeve
Software experts celebrate being named Business of the Year
Corporate lawyer and entrepreneur joins the team
Consultancy enjoys successful period of business
Systems help make the most of a building's energy profile
Support from HSBC UK seals the deal
Lawyer steps up to take key role
Acquisition will "acclerate digital growth"
Future-planning advice will continue during Coronavirus crisis
Security specialist expands its offering to come through Covid-19
Investment manager and head of Midlands region, Tilney
Residents impressed by firm's approach to customer service