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Management close 4Projects deal
4Projects, a developer of project management software for the architecture, engineering and construction industries, has been bought by its management.
The buy-out was led by Richard Vertigan and Steve Nelson, who bought the company for an undisclosed sum.
Vertigan and Nelson were backed by August Equity with funding also provided by Kaupthing Singer & Friedlander’s Corporate & Structured Finance business.
Kaupthing Singer & Friedlander’s team was led by Jamie Szpiro and Oliver Thomson, who provided senior debt, working capital and hedging facilities.
Szpiro said this deal continues the firm’s on-going relationship with August Equity. “4Projects is a successful business with an entrepreneurial and imaginative management team and we look forward to supporting them in achieving their future plans.”
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