PE firm August Equity has acquired a controlling stake in Wandsworth-based Business Systems (BSL).
The investment is expected to catalyse BSL's growth plans in new markets in the UK and internationally.
Adam Kantor, previously Chief Commercial Officer, steps into the role of Chief Executive Officer and Geoff Love, former CEO of business messaging firm Commify joins as Executive Chairman.
Kantor said: “Our legacy of providing compliance and monitoring solutions to the world’s largest financial institutions has been the foundation from which we have built our Workforce Engagement Management and cloud contact centre offerings, and this investment opportunity allows us to serve our customers better with innovative and disruptive technologies as well as providing access to additional expert resources.”
Love added: “With private equity backing we can now take the business to the next level.”
BSL is August’s fourth investment in adjacent managed services businesses following investments in cyber (SecureData), unified comms (Charterhouse Voice & Data) and cloud managed services (Air IT).
Mehul Patel, Partner at August Equity, commented: “This platform has an opportunity to expand its customer base globally while investing more in higher growth segments such as CCaaS and its internally developed voice compliance software management tool."
BSL was founded by Richard Mill and Stephen Thurston in 1987 as a call recording provider in the financial sector.