MHA Moore and Smalley advises software firms on merger
A fast-expanding ecommerce software provider is targeting growth after merging with a Manchester-based counterpart.
Lancaster-based Cloud Commerce Pro Ltd, which specialises in cloud-based omni-channel order management platforms, has merged with ChannelGrabber Ltd which develops similar e-commerce products.
The corporate finance team at MHA Moore and Smalley advised the owners of Cloud Commerce Pro, Mark Hallam and Stuart Forrest, on the merger. The team, led by corporate finance senior manager Paul Bennett and tax partner Rachel Marsdin, advised on financial due diligence and tax issues.
ChannelGrabber has typically serviced the needs of small to medium-sized retailers who demand instant subscription, rapid setup and ease-of-use, while Cloud Commerce Pro’s ecommerce platform offers the power, performance and adaptability needed by the more demanding mid to large-sized omni-channel retailers.
The deal therefore creates a new market leader offering the most comprehensive range of solutions for the global retail sector.
The combined businesses will be headed by the collective leadership teams including serial entrepreneurs Mark Hallam, Stuart Forrest and Mike Morgan with the chairmanship of Angus MacSween, CEO of iomart Plc.
Mark Hallam, director of Cloud Commerce Pro, said: “The combination of Cloud Commerce Pro and ChannelGrabber is set to disrupt a market so far dominated by one or two software and service providers whose offerings can neither keep pace with nor meet the needs of our customers in what is a very dynamic market.
“Our two companies have collaborated for some time to provide our customers with ecommerce solutions for retailers both large and small, so our merger is very definitely market and customer-driven. Truly no other software or service provider can now rival our portfolio of retail solutions.”
Paul Bennett, corporate finance senior manager, said: “This deal sees the coming together of two incredibly innovative and fast-growing North West companies, both of which have developed enormously popular software for online retailers across the globe.
“It’s been a pleasure to advise the Cloud Commerce team on a deal that will unlock significant growth opportunities for the enlarged businesses.”
Cloud Commerce Pro provides a comprehensive set of ecommerce tools for omni-channel retailers. Their software of the same name incorporates sales and ordering systems, stock control, warehousing, shipping, accounting, customer service and other features.
ChannelGrabber’s software enables smaller to mid-sized merchants to manage listings, inventory, orders, billing, shipping and messaging in one place to help them save time, increase productivity and optimise selling performance.