Castleton Technology completes Kypera acquisition

Castleton Technology completes Kypera acquisition

Sutton Coldfield-headquartered Castleton Technology has completed the acquisition of housing management and finance software firm Kypera after securing £4.5m in funding.

The firm has secured £2m in funding from the Business Growth Fund (BGF) whilst existing investor MXC Capital invested £1.5m and Barclays extended its bank facilities to the firm by a further £1m.

Castleton provides bespoke software and infrastructure solutions, predominately in the social housing sector, and boasts almost a third of all the social housing firms in the UK as customers.

The company has made several acquisitions in the last two years, buying similar businesses focused on the social housing sector - Montal, Documotive, Keylogic, Opus, Impact, Brixx and now Kypera.

The acquisition will provide a software platform to Castleton’s multiple service lines to create the only integrated, single Enterprise Resource Planning (“ERP”) platform solution in the social housing sector, as well as bringing an international presence to Castleton’s operation.

Ian Smith, chief executive of Castleton, said: “This is a critical acquisition for us. Kypera adds a whole new level to Castleton’s offer.

“We are now the only integrated, single ERP platform solution able to meet every aspect of our customers’ needs – the only “one stop shop” serving the sector.

“We are pleased to have BGF Quoted on board as a strategic long-term partner, whose funding will allow us to unlock further growth in the business.”

Gurinder Sunner, BGF, added: “Castleton’s management team has demonstrated its ability to execute an acquisitive and organic growth strategy.

“We are delighted to be supporting them as strengthen their offering even further with the integration of Kypera and to make our first co-investment alongside MXC.”