A Liverpool-based workforce management supplier to the construction industry has been sold to a Swedish industry leader.
MSite, which provides a platform for around 40% of the UK's construction workforce and is deployed by major contractors including Morgan Sindall and Vinci Construction, has been sold to Infobric Group
MSite said the move will create a leading European digital supplier to the construction sector, with Infobric's services used on more than 16,000 construction projects and by more than 300,000 users.
Independent law firm Brabners advised the shareholders of MSite on its sale.
Neil Norman, founder and CEO of MSite, added: “MSite has trail-blazed digital workforce management in the UK Construction space for 20 years, but our ambitions have always been to be a global company.
“Entering a transaction for the first time, you quickly realise the invaluable contribution of your advisors. Nik White, Andrew O’Mahony and the Brabners team did much of the heavy lifting and guided us through all the legal-speak whilst steadfastly protecting our position throughout.
"They kept pace with the many deadlines and late-night calls, but most importantly, they were instrumental in giving us peace of mind throughout, and helping us to expand MSite’s global reach.”
It comes as the market for digital technology in the construction sector continues to grow significantly, particularly across productivity and safety.
Brabners’ corporate team in Liverpool, led by Mr O'Mahony, advised on the transaction.
Brabners said team worked closely with MSite and its shareholders in order to close a comprehensive legal due diligence process, negotiate the transaction and take it through to completion within two months.
Mr O’Mahony, partner at Brabners, said: “We are delighted to have advised the shareholders of MSite on what is a highly significant deal in the construction technology sector. MSite is a market-leading business which Brabners has had the pleasure of advising for many years, and we are glad to see a great outcome for all involved. We wish Neil and the team every success moving forward.”
