Harris Williams & Co. Ltd Has Provided Strategic Advice to LDC on its Acquisition of Mitrefinch Ltd

October 25, 2016

Harris Williams & Co. Ltd, a preeminent middle market investment bank focused on the advisory needs of clients worldwide, has provided strategic advice to LDC on its acquisition of Mitrefinch Ltd (Mitrefinch). Mitrefinch is a provider of an integrated suite of workforce management software solutions centered on market leading time and attendance and employee management solutions. The transaction was supported by Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group, led by Thierry Monjauze, Jonathan Organ and Mathew Tsui of Harris Williams & Co.’s London Office.

“The human capital management software sector has been a focus among investors recently and we have been fortunate to work with LDC on another transaction within this space, having advised on the sale of Workplace Systems earlier this year,” said Thierry Monjauze, a managing director at Harris Williams & Co. “We look forward to following the continued development of Mitrefinch.”

“Mitrefinch has developed a market-leading time and attendance solution that delivers tangible ROI to thousands of customers worldwide,” said Jonathan Organ, a director at Harris Williams & Co. “We are pleased to have assisted LDC on this exciting opportunity and to continue the expansion of our expertise across HCM software globally.”

LDC, the private equity arm of Lloyds Banking Group, backs ambitious management teams from UK-based companies seeking up to £100 million of equity for management buyouts, institutional buyouts or development capital transactions. It invests in a broad range of sectors with particular experience in construction and property, financial services, healthcare, industrials, retail and consumer, TMT, travel and leisure and support services. The firm has committed to invest £1.2 billion in UK mid-market businesses over the next three years.

Established in the UK in 1979, Mitrefinch is a leading developer of employee management and security solutions. In the early 1980s, Mitrefinch developed the first computerised time and attendance system. Their continuous investment in research and development since then resulted in a time and attendance system that can be deployed as an on premise or SaaS solution and integrates with a complementary suite of products, giving a total solution adapted to each individual customer's needs. The end result is reduced costs, increased productivity, better decision-making, improved employee satisfaction and alignment with organisational objectives. Worldwide, Mitrefinch serves over 3,500 clients from all business sectors and varying in size from only a few employees to many thousands. Mitrefinch has branches in Australia, Canada, U.S. and the UK, as well as a distributor in Ireland.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education, energy technology, fintech, public sector and supply chain/logistics and has a dedicated healthcare technology (HCIT) practice.  Across verticals it also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority.  Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.