Smith & Williamson has advised on the Management Buy Out (MBO) at Bristol-based software development company Sparkol.
The business, which specialises in explainer video programs for desktop and web applications, has been acquired from management by CEO Zoe Taylor.
Founded in 2008, Sparkol is based in Temple Way near Bristol Temple Meads station, and employs over 20 people.
Its products are used in over 160 countries and include VideoScribe, an award-winning whiteboard animation software, and newly launched StoryPix, which quickly transforms simple photos into detailed explainer presentations.
Iain Lownes, Partner and Corporate Finance Director at Smith & Williamson, was lead adviser on the deal.
He said: “I am really pleased to get this transaction completed. Our firm has a strong focus on working with technology businesses in the local market.
“Bristol is one of the UK’s leading tech hubs and being located in the city has been a major factor in Sparkol’s development into a national and international success story. Now the business is well positioned for further global growth.”
“Iain Lownes was involved from day one and he and the team at Smith & Williamson were instrumental in getting this deal completed,” says Zoe Taylor.
“The MBO will give us the opportunity to grow the business further and to continue to develop the exciting new products which are coming on stream.
“In a world where attention spans and engagement levels are low without visuals, our products allow users – whether they have a product to sell, a lesson to teach or a vision to communicate - to harness the importance of video to engage, inspire and motivate audiences.”
Chris Dyson, Partner in the Corporate Team at Ashfords provided legal advice to the acquisition team on the deal.