Logistics software company Principal Logistics Technologies has acquired Brentech Data Systems in a deal where finance was provided by The Firmament Group and Harwood Private Capital.
Principal's founder and managing director Peter Flanagan (pictured) said: “I am excited that our longstanding experience in deploying warehouse management software technology into the healthcare supply chain sector, as well as into a range of other sectors, will be increased by this strategic acquisition.
“I am also impressed with the power, scalability and functionality of Brentech’s AWARDS-BA³ technology platform, and by the fact that our mutual technologies utilise both the Progress OpenEdge and Microsoft .Net platforms and skillsets. This provides continued and assured customer support and also grows our already strong OpenEdge and .Net knowledge pool.”
Flanagan founded Principal Logistics in 1992, developing what came to be known as In-DEX WMS. He added: “In-DEX WMS technology supports single-site operations, SME and multinationals with complex multisite, end-to-end, supply chain operations across multiple industry sectors.
“AWARDS-BA³ offers complex sales and purchase order processing functionality needed by pharmaceutical and healthcare product distributors. It also offers the capability of managing automated and robotics-based warehousing systems. We look forward to adding these products to our portfolio. We are now a team of more than 30 professionals delivering solutions to the UK, Ireland, Europe and Australasia.”
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Brentech founder John Brennan added: “We developed our blue chip client base over many years and a key issue in considering the sale to Principal Logistics Technologies was the assurance of ongoing high levels of professional support to our valued customers.
“Additionally, we’ve a great team and we needed assurance that our highly-trained resources remained in place to support our customers. I’m comfortable in the knowledge that both our customers and team are in good hands.”
Principal was advised on the deal by a Dillon Eustace team led by Lorcan Tiernan head of Corporate M&A, supported by M&A associate Owen Brayden, David Lawless Head of Tax, Conor Keaveny, partner Banking and Capital Markets, and Banking associate, Shona Hughes.
According to Tiernan: “The deal finished off what turned out to be a very productive and busy year for our M&A team, notwithstanding the pandemic.”
Luke Mooney of Duff & Phelps acted as financial advisor to Principal Logistics Technologies while tax advice was also provided by Bernard Doherty of Grant Thornton.
