Inflexion backs management buyout of PCMS Group
Inflexion Private Equity has backed the management buyout of PCMS Group, a leading provider of point-of-sale (POS) software for major retailers such as Walgreens, John Lewis and Arcadia Group.
PCMS offers an integrated unified commerce platform for retail selling points for in-store (POS, self-checkout, self-scan) or cloud-hosted environments (eCommerce, mobile). This software is paramount in the digital retail environment creating a seamless shopping experience for customers regardless of their location and facilitating ‘on-the-go’ retail transactions. The business has over 450 employees in the U.K., U.S. and Singapore with over 140 blue-chip customers in 55 countries.
PCMS has delivered reliability and innovation to major retailers for 35 years and is one of the most trusted names in retail. The management team, led by CEO Tony Houldsworth, were attracted to Inflexion’s track record in supporting international expansion. Inflexion’s investment will also support a smooth succession plan, backing PCMS’s existing management team to take leadership from the exiting founder. Finally, PCMS will draw on our in-house digital resource, supporting continued software innovation.
Tony Houldsworth, PCMS Group CEO, commented, “We are proud of the business PCMS is today. Its stellar profit growth reflects a global retailers’ demand for innovative POS software and customer service excellence. Inflexion is a natural partner for PCMS; with their advanced in-house digital expertise and global reach, we look forward to working in partnership to accelerate our next phase of growth.”
Simon Turner, Managing Partner, Inflexion, commented, “PCMS prides itself on progressive digital innovation. The business joins our suite of TMT portfolio companies with global operations such as Mobica and Group IMD. Inflexion has created brilliant momentum this year; just last week we acquired ATCORE Technology Group and we have invested in 10 businesses this year alone. We are delighted to welcome PCMS.”
The Inflexion deal team comprised of Richard Swann and Ed Fraser; both will join the Group’s board.
Inflexion was advised by PwC.