New Acquisition Fuels Growth Strategy at Brady
Brady plc, the leading global supplier of trading, risk management and settlement solutions to the metals and commodities sectors, has acquired Commodities Software (UK) Limited (Comsoft), a privately held company.
In the highly focused and specialised world of commodities Brady is the leader in metal trading solutions; Comsoft is a leading supplier of raw material solutions. The acquisition will position Brady as the unique provider of the most sophisticated trading and risk management solutions for refined and unrefined metals. Brady and Comsoft already share prestigious clients.
The extreme volatility of metal prices requires integrated solutions for trading and risk management. The offerings of the two companies are complementary and will provide a single solution for raw materials including contract capture, invoicing, QP schedule, mark-to-market, assaying, hedging, financing and credit risk. Brady will provide a transparent and compliant platform, a pre-requisite in today’s environment.
Comsoft, formed in 1994, has an impressive client base through the UK, Eire, USA, Switzerland and Turkey; its principals have more than 25 years’ expertise in the raw materials business and it has complete intellectual property rights. No headcount reductions or cost savings are planned as Brady intends to invest to accelerate growth.
Gavin Lavelle, CEO of Brady plc, commented: “This is a fantastic start to the year for Brady. The acquisition is a significant milestone in our strategy of being the definitive global provider of risk management and settlement solutions to the metals and commodities industries. Our clients will have the most advanced offering for refined and unrefined metals. Comsoft and its clients will benefit from Brady’s global reach and worldwide support and development resources. The deal provides an opportunity to accelerate our growth and we anticipate enhanced earnings per share. Brady is cash positive and has an appetite for the right acquisitions at the right price.”
Says Ian Kingdon, Managing Director at Comsoft: “As the leader in this market we see Brady as a natural partner. The acquisition will benefit Comsoft and Brady clients, offering the marketplace an outstanding product set. We are looking forward to working with Brady to develop our products and grow the company.”