Proactis has acquired Millstream Associates for cash consideration of £15.5m, funded by a £12.5m equity fundraise at 135p alongside refreshed debt facilities of £15.2m. Millstream's business model focuses on tenders in the public sector, with 70% of revenue derived from Tenders Direct, a subscription-based service for suppliers to the public sector, delivering essential categorisation to enable targeted delivery of tender awareness. 30% of revenue is generated from further b
10 Nov 2016
Acquisition and placing
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Acquisition and placing
- Published:
10 Nov 2016 -
Author:
Andrew Darley -
Pages:
12
Proactis has acquired Millstream Associates for cash consideration of £15.5m, funded by a £12.5m equity fundraise at 135p alongside refreshed debt facilities of £15.2m. Millstream's business model focuses on tenders in the public sector, with 70% of revenue derived from Tenders Direct, a subscription-based service for suppliers to the public sector, delivering essential categorisation to enable targeted delivery of tender awareness. 30% of revenue is generated from further b