Software Circle

What They Buy

• Target: Vertical market software businesses with prominent market positions
• Focus: Software platforms operating within specific verticals
• Structure: Recurring revenue models preferred
• Geography: UK-focused with European reach
• Philosophy: Provide permanent home for teams, management, and culture
• Approach: “Exit strategy without fuss” for founders

Acquisition Criteria

Business Characteristics:

• Market Position: Prominent position in their vertical market
• Revenue Model: Recurring revenue generation preferred
• Software Type: Vertical market software platforms
• Market Focus: Specific niche or vertical specialization

Operational Approach:

• Independence: Continue operations in decentralized way
• Culture: Preserve entrepreneurial spirit and existing culture
• Management: Maintain existing teams and management talent
• Growth: Focus on organic growth and disciplined capital deployment

Investment Philosophy

Constellation Software Model:

• Inspired by Canadian company Constellation Software’s approach
• Serial acquisition strategy focused on vertical market software
• Decentralized acquisition model with strong market positions
• Long-term holding approach providing permanent homes

Founder-Centric:

• Help founders find “the right exit strategy, without fuss”
• Straightforward, low-friction exit process
• Preserve company culture and entrepreneurial spirit
• Permanent home philosophy for acquired businesses

Recent Acquisitions

• Link Maker: Children’s social care adoption platform
• Be The Brand Experience: Marketing compliance and digital asset management for financial services
• Arc Technology Limited: Educational technology solutions

Public Company Structure

Stock Exchange:

• Listed: UK public company (PLC)
• Ticker: Available on UK markets
• Structure: Public company with transparent reporting
• Growth: Focus on improving Earnings Per Share through disciplined acquisitions

What Makes Them Different

UK Market Focus:

• Strong understanding of UK vertical software markets
• Local market expertise and regulatory knowledge
• European expansion capabilities

No Fuss Approach:

• Straightforward acquisition process
• Focus on simplicity and clarity for founders
• Emphasis on cultural preservation over integration

Public Company Benefits:

• Transparent financial reporting and governance
• Access to public market capital for growth
• Established corporate structure and processes

Benefits for Founders

Simple Exit Process:

• “Without fuss” philosophy for straightforward transactions
• Focus on founder needs and cultural preservation
• Permanent home commitment for business continuity

Operational Independence:

• Decentralized operations maintaining business autonomy
• Preservation of entrepreneurial culture and spirit
• Continued management team leadership

Long-term Stability:

• Public company backing with transparent governance
• Permanent ownership commitment (no flipping strategy)
• Focus on organic growth and sustainable development