Tuesday 01.04.2008

Halliwells Advises On Tekton Sale

Law firm Halliwells has advised the shareholders at Manchester-based construction software firm Tekton on the sale of the business to Newcastle-based accounting software giant Sage for £21m.

Halliwells' corporate team was led by partner Rebecca Grisewood and associate Kate Richards.

Tekton - the Greek word for builder - is regarded as Britain's fastest-growing construction and housebuilding software specialist, with more than 230 clients.

Chief Executive Richard Beaton, a serial software entrepreneur, will stay on for a handover period until the end of June.

Mr Beaton, 50, established Tekton in 2005 then acquired a string of businesses across England and Scotland, followed by one in the US earlier this year.

Mr Beaton held a 43 per cent stake and private equity outfit Inflexion had 40 per cent after investing £4.6m just over a year ago.

The rest of the shares were held by staff and YFM Private Equity.

About Halliwells

Halliwells is one of the UK's leading multi-disciplinary law firms with over 1000 people and offices in Manchester, Liverpool, London and Sheffield



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