August Equity has completed the acquisition of CODE from its former CEO, Paul Mendlesohn. The incumbent management team led by Managing Director Karen Penfold will continue to run the business alongside Dr Sati Sian who has been appointed Executive Chairman to spearhead the business. Sati was previously CEO of Allocate Software, the healthcare workforce optimisation software business. Jenifer Kirkland has joined as CFO.
August Equity has significant experience in the dental, technology and compliance sectors, as well as across the broader healthcare and multi-site primary care markets. The acquisition of CODE is an exciting opportunity for August Equity, representing a solid platform with strong historical organic growth and a high quality of earnings upon which to build a leading software-led primary healthcare compliance and HR management business.
Commenting on the acquisition, Christian Dubé and James Bakewell stated: “We are delighted to be working with Sati, Jen and Karen and the team at CODE to build a market leading software-led compliance and HR management business in the primary healthcare sector. The business operates in a market that we know extremely well and one that presents very strong opportunities for significant growth.”
Andy Coghlan, (Partner, WK Corporate Finance) commented: "We are delighted to have advised Paul Mendlesohn on the sale of CODE and believe that August are an ideal partner to continue the growth of this exciting business".
Paul Mendlesohn stated: "I have completed on a number of sales and acquisitions in the past. However when I decided to sell CODE, Andy Coghlan and his firm WK Corporate Finance were recommended to me. After interviewing a few potential advisers I settled on WK and I would say that it has been one of the best decisions I have ever made. Not only did Andy and Charlie Copp work hard to find the best deal, they gave me timely and effective advice when I needed it, they facilitated the progress of the transaction when it hit inevitable road bumps and they provided extensive assistance with the due diligence process. Andy and Charlie worked hard to facilitate completion accounts accurately and fairly. I would say that they showed the highest levels of professionalism and expertise at all stages".