Our Corporate Finance team advises Axiom Equity backed Joblogic on its acquisition of Protean Software

Our Corporate Finance team recently provided financial due diligence to Axiom Equity backed Joblogic, field service management software provider, on its acquisition of long-term competitor, Protean Software.

Joblogic is the UK’s leading field service management software provider catering to a wide selection of maintenance industries. Its mission is to provide contractors with world-class field service management software that saves time, increases productivity, and aids regulatory compliance. Joblogic’s cloud-based platform streamlines service operations, improving visibility and communication. The company has approximately 330 employees across offices in the UK (headquarters), Pakistan and Vietnam, serving thousands of companies all over the world.

The acquisition propels Joblogic into the UK number one position in the field service management software sector and is the first major transaction following Joblogic’s recent investment by Axiom Equity, to form part of Joblogic’s ambitious UK and international expansion strategy. In addition to the company’s assets and the absorption of its client base of more than 10,000 users, the acquisition also sees Protean’s 50 employees welcomed into the Joblogic team, which is now located at the company’s central Birmingham offices.

James Whatmore, Joblogic’s CEO commented, “It's a strategic acquisition that's going to accelerate our growth goals for the UK FSM market. We wanted to do this deal for a number of reasons. Most importantly we're scaling up our own teams and trying to hire the best people in the industry. We respect Protean and what they've built over the past 20 years. We know that their team is experienced, built on integrity and is culturally aligned with ours. They're client focused and that's important to us. Also, their customer base is very close to ours. This gives us high confidence in making our collaboration a success."

Protean Software is a provider of extensive service management software that enables businesses to enhance efficiency with their CMMS (Computerized maintenance management system) based in the cloud. By offering real-time information, this software empowers users to make informed choices and propel business expansion.

“I’m delighted that our business has been acquired by a company with similar focus and values to ours and I am confident that the employees and customers of Protean could not be in better hands,” commented Bob Anderson, its long-term CEO, who is stepping down following the conclusion of the deal. “The combined knowledge of Joblogic and Protean creates a company unmatched in the field service management software sector globally.”

Brad McAvoy, Corporate Finance Partner at James Cowper Kreston said, “We were delighted to work with the Joblogic team again on their first acquisition since their investment from Axiom. The acquisitions allows the business to increase both its market position and its global footprint and we look forward to working with both them and the Axiom team again in the future”