Inflexion Makes 2x on Tekton Sale

Inflexion Private Equity, a UK mid-market private equity house, has revealed that it made a two times return on the sale earlier this week of specialist software group Tekton.

Manchester-based Tekton Group, an enterprise resource planning software provider to the UK construction industry, was sold to Sage, a business management software and services group, for Gbp21m.

Inflexion originally acquired Tekton Group in December 2006 in a Gbp12m deal and over 15 months made a two times return on its original equity investment of Gbp4.6m and an internal rate of return of 66%.

During Tekton Group's period of private equity ownership, Inflexion said that it increased profits by 20%, grew the staff by more than 60% to over 90, consolidated operations and expanded the sales force.