ePOS Group, one of the UK’s leading Electronic Point of Sale businesses has been purchased by Jonas Software in a multi-million pound deal advised by East Midlands professionals from Skye Corporate Finance Limited and Gateley Plc.
ePOS was established over 40 years ago and has secured a strong position in the hospitality, bakery and other retail sectors where its in-house developed software and systems ensure that customer transactions are safely and swiftly completed and recorded. The ePOS product integrates traditional fixed till terminals with hand held chip and pin devices and through to the latest tablet and mobile phone applications. In addition, the ePOS back office software allows users to undertake comprehensive dashboard performance analysis on an outlet by outlet basis promoting greater efficiency and profitability. The business also provides a full range of hardware and software maintenance services.
ePOS is headquartered in Ramsgate, Kent and has offices in Birmingham, London, Manchester and Plymouth. The business has a workforce of close to 40 staff and has over 1,000 live customers generating turnover of circa £3m.
Jonas is part of Constellation Software Inc based in Canada and operates over 50 independently managed software businesses across the globe, many of which have been secured through acquisition, with a focus on the Hospitality and Industrial market verticals.
Managing Director of ePOS Steve Boyes said “We have built an exciting business with lots of potential and I believe that this potential can be more quickly realised now that we are part of a larger organisation.”
Lead adviser to the ePOS team was John Sykes of Skye Corporate Finance Limited. Commenting on the deal John said: “ePOS is a great example of an energetic technology business that has worked hard to develop its product offering to meet a changing market. As a consequence, when the time came to market the business for sale it proved attractive to potential purchasers from across the world.”
Legal advice to the vendors was provided by Corporate associate, Rachel Bennett of Gateley Plc’s Leicester office. Rachel said: “We are delighted to have helped the vendors achieve both their personal goals on the sale and also their ambitions for taking the ePOS business to the next level. It is clear that the deal with Jonas presents a great platform for the management team to develop the ePOS business further.”
Gateley Plc recently became the first UK commercial law firm to be admitted to the AIM market of the London Stock Exchange.