INVESTIS, a maker of apps and websites for listed companies, was sold yesterday in a £25m management buyout deal backed by private equity firm Gresham Private Equity.
The deal will see co-founder Justin Walters step down as chief executive, to be replaced by current managing director and co-founder Helen James, and two board positions allocated to Gresham Private Equity partners Paul Franks and Mitch Titley.
In a sign of the firm’s future growth ambitions, it also announced yesterday that it had bought Morningstar’s Investor Relations Service, formerly Hemscott IR, for an undisclosed sum.
The firm is hoping to capitalise on the increasing use of iPad and mobile devices by company board members to undertake investor relations work.
“We felt it was time to be more ambitious,” James said. “The market is very exciting and digital communication is much more significant than it was two or three years ago.”
Clarity advised Investis on the deal.