York-based software firm Simunix – founded in 1998 by John Lewis – has become part of acquisitive US-HQ’d Banyan Software, which operates more than 100 portfolio companies across North and South America, the UK, Europe, and the Asia Pacific region. – among them Simunix’s recently acquired Northern neighbours Synergist and Agency Works.
Simunix is a leading provider of people and business searches, ID verification and data software for public and private sector organisations. Its flagship platforms, including ORBIS and T2A, are used by UK police forces as well as logistics, financial services and compliance organisations for identity verification and geo-location.
Founded in 2016, Banyan follows a ‘buy, grow, and hold-for-life’ approach, providing founders like Lewis with a permanent home for the businesses they have built.
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Nick Barker led the Azets Corporate Finance team that acted as lead financial advisers for the Simunix shareholders. He said: “Simunix has developed an exceptional reputation in advanced software for identity search and verification and, in Banyan, has a new owner who has a proven track record of taking the businesses in its international portfolio to the next level.
“As a long-standing and valued client of the Azets York office, we were delighted to provide support on this important transaction for the business and its exiting shareholders.
“The transaction supports Simunix’s next phase of growth under new ownership that promises to invest in its long-term development and uphold the core values that have made it such a success over the past 28 years.
“Our best wishes go to all parties in the transaction as a new era dawns for the business.”
Founder Lewis added: “Simunix has spent more than two decades building systems that public and private sector customers rely on every day to support their business operations.
“As I looked ahead to the next chapter, finding a partner who would recognise what we’ve built and invest in its continued development was the most important decision I could make.
“Banyan stood out for their long-term mindset, their respect for our core values, our team and their genuine commitment to the business and the customers we serve.”
The transaction value was undisclosed.
