Mid-market private equity firm Bowmark Capital has invested in Turnkey IPS, a software provider to the insolvency industry.
Bowmark’s investment is intended to support the company’s growth through further investment in people, technology, product development and international expansion. As part of the transaction, COO Deborah Baxter will become chief executive while Tony Wood will transition to a non-executive role. Peter Little will also join Turnkey’s board as non-executive chairman.
Turnkey was established by Dr Barry Wood in 1980 and provides corporate restructuring and insolvency software to over 300 clients. The business has recurring revenues at over 20% per annum, according to a statement.
