I don’t know if you spotted it, (you won’t at the writing of this blog find it on Civica’s news section of their website), but last week (Wed' 3rd May 2017) it was announced that Banks are readying around £450m of debt financing to back a sale of Civica.
Civica have some penetration within social housing, via various mainly legacy housing systems, Keystone asset management, Servitor contractor module and the recent acquisition of common housing register platform Abritas. Of course they are into a lot of other local authority & public sector areas, such as Government & National Security, Local & Regional Government, Public Safety, Social Housing, Health & Care, Education, Travel & Transport, Commercial & Utilities, Telecoms, Financial & Legal.
They moved from 3i in 2013 to Omers Private Equity, with £255m of leveraged loans.
Social housing customers will be interested, particularly as the new Cx Housing Software product is at last being seriously rolled out. The large list of RSLs & RP’s on the sold-to list will be eager to see if additional resources can be leveraged to move more sites live, much more quickly.
These are interesting times with Cx being a very recently developed HTML5 delivered product, which could be a good potential future proofed option, compared with where some of its peers are at currently, with either systems still stuck fully or partially in old technologies or requiring a ‘skin over the top’ to make them presentable. I would not be so rude as to mention them here by name 8-)
The list of solid ‘future-proofed’ systems for housing out there, seems to be reducing. It would be interesting to author a white paper or similar to research where it all seems to be going. Feel free to share any thoughts on that, via the comments area below or on direct message.
Read the full chapter and verse on the Reuters site
July 2017 Update- Civica Sold to Partners Private Equity Group for £1.06b
Related Post: Void recharges, something to think seriously about
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