Wed, 14 Feb 2024 | MBO/MBI
Praxis42, a risk management and training consultancy based in Suffolk, has been acquired in a management buyout. The MBO at the technology-led firm, which provides compliance support for businesses ranging from SMEs to large corporates, was supported by Forward Corporate Finance, with funding provided by Triple Point.
The management team, comprised of CEO Julian Roberts, Digital Managing Director Tom Paxman, Commercial Director Shane McAllister and Consulting Managing Director Adam Clarke, has acquired the business from founders Keith Paxman and Mike Stevens.
Paxman and Stevens founded the business more than 20 years ago, with Julian Roberts and Shane McAllister joining in recent years through a joint venture called ComplyNet. The founders will step back following the MBO, enabling the new management team to drive Praxis42’s next stage of growth.
Tom Paxman said: “Rob and Will at Forward assisted us to agree the headline deal, ran an extremely impressive process to attract the right funding partner in Triple Point, kept us all on track through a few bumps in the road and got the deal done we have had in the pipeline for some time now.”
CEO Julian Roberts…
