The management team of Interica Limited, a company formed in 2012 by the merger of two Reservoir Group companies, have completed a buy-out of the data management and software business from the Reservoir Group. The MBO was funded by a group of experienced investors, who will assist the management team to continue to grow the business and deliver the products and services for which Interica has become known.
Commenting on the MBO, Simon Kendall, the Chief Executive of Interica, said: “Management is delighted to welcome a new investor base and associated non-executive directors into Interica. With the support of the vendors we have executed this buy-out to deliver on our growth plans in expanding the scope and reach of the business for the benefit of our extensive client base”.
Pascal Bartette, CEO of Reservoir Group, said: “We are delighted that Interica is to emerge as a strong independent player able to offer new opportunities to existing staff and management. Reservoir is committed to remain supportive and looks forward to its continuing relationship with Simon Kendall and the able team he is leading”.
11 February 2013