Forward advises management team of Praxis42 on MBO
Forward Corporate Finance is delighted to announce the management buyout of Suffolk based, Praxis42 Limited (“Praxis42”), by its management team consisting of CEO Julian Roberts, MD of Digital Tom Paxman, MD of Consulting Adam Clarke and Commercial Director Shane McAllister. Forward acted as lead advisor to the management team, who acquired the business from its founders Keith Paxman and Mike Stevens.
Praxis42 is a technology led, risk management and training consultancy, providing compliance support for large corporates and SMEs for over 20 years. Their proprietary e-learning platform SHINE is tailored to client’s specific needs and has driven high quality renewable subscription-based revenues.
In recent years Praxis42 attracted Julian and Shane to the team, through a joint venture called ComplyNet, which has complemented the skills of Tom and Adam the respective MDs of the digital and consulting divisions.
The MBO provides Keith and Mike the time to take a step back from the business, and will enable management to drive growth for the next stage of the development of Praxis42.
Funding for the transaction, including additional development capital to invest in SHINE, was provided by Triple Point, with Danny Muir and Harry Jeffrey leading the transaction for the Bank.
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