Jul 2011 – Strategic acquisition puts Amor Group on track to achieve revenues of £70 million
GCP backed Amor Group pursues buy & build strategy in acquisition of FS Walker Hughes
Amor Group, a leading business technology company backed by Growth Capital Partners (GCP), has made a strategic acquisition of FS Walker Hughes, a Manchester based specialist software business focused on the airport sector.
Amor provides products and services to the energy, transport and public sectors. This acquisition has increased employee numbers by 5% to 460 and forecast revenues for 2011 to £40 million. It forms part of Amor’s strategy to increase revenues to £70million by 2013 organically and via acquisition, as well as enhancing the firms existing software products.
FSW’s core product is an Airport Operational Database (AODB) called Chroma. The AODB acts as the database for operational information in airports from flight movements into and out of the airport, to resource allocation of stands, gates, baggage belts, and flight information. This fits well with Amor’s existing airport products such as ResourcePlan+ a forecasting, planning and resource management solution that enables airports to streamline operations.
Chief executive officer John Innes said:
“This deal will expand our global reach withbest-of-breed products that drive international revenues. We are well on track to achieve our goal of £70m revenues by 2013.
“The FS Walker Hughes acquisition represents a compelling fully-integrated technology offering for the global aviation industry. It delivers early=mover advantage for us in the aviation business – making Amor the first provider to be able to deliver proven ‘kerb to gate’ solutions to our customers. The FS Walker Hughes business model is very similar to Amor’s with an emphasis on building strong recurring revenues internationally through unique IP and domain expertise.”
Commenting James Blake of Growth Capital Partners said:
“This acquisition follows a 10% organic revenue growth recorded by Amor in the last financial year. Amor has consistently delivered growth since it was established as a result of a management buy-out two years ago.”
Headquartered in Glasgow with offices in Edinburgh, Aberdeen, Coventry, Manchester and Houston, Amor Group is set to open an office in Dubai in the autumn. Amor Group is backed by investor partners Growth Capital Partners, Clydesdale Bank and Scottish Enterprise.