HELPING A KIWI SOFTWARE BUSINESS GO GLOBAL

Enprise Solutions, part of the Enprise Group, is one of Australasia’s leading specialist providers of accounting and business management software. Specialising in solutions based on the MYOB EXO software platform it has over 700 clients, ranging from large corporates through to small and medium sized businesses. Group CEO of Enprise Solutions, Mark Loveys, was the original developer, designer and founder of Exonet before selling it in 2000 and watching its transformation into MYOB EXO.

In 2006 Enprise Solutions developed an additional module for SAP, a world leader in enterprise software and software related services, which is headquartered in Germany with locations in more than 130 countries. Enprise Solutions recognised the significant opportunity they had to maximise their presence and market their product internationally, particularly across North America, Europe, Australia and South Africa. Following a recommendation from an industry colleague, Enprise Solutions approached Howard & Company for advice on how to successfully grow the business, gain capital and market their product on an international scale.

Finding a team of professional experts

According to Mark Loveys, Enprise Solutions had an excellent opportunity to make it big internationally, but it needed help getting there. “We had heard really good things about Howard & Company’s work and wanted some expert industry advice to maximise our company’s potential in the global marketplace. From day one, we found the directors incredibly engaging, professional and extremely committed to helping our company succeed.”

Founder of Howard & Company, Ant Howard said that, “when Enprise Solutions came to us in 2006 they were a very young company but they fitted our target client profile of high growth potential, capable and respected leadership. We then began a long and multifaceted engagement with Enprise Solutions.”

Providing Enprise Solutions with a range of services

Capital Raising

According to Mark Loveys “Our first requirement was to gain capital so that we could grow as a company. Howard & Company were able to help us become investment ready by preparing a sound investment case. They then introduced us to a number of potential investors and successfully raised capital for us from TMT Ventures (a VC fund of Direct Capital).”

Business Strategy & Governance

After a successful capital raising, Howard & Company moved into the next phase of the engagement by providing Enprise Solutions with business strategy and governance services. Directors Ant Howard and John Quirk sat on the board and Ant Howard acted as chairperson.

“Ant Howard gave us excellent advice and direction,” said Mark Loveys “he helped build a good boardroom culture – board meetings were really productive and still are to this day. There are many companies out there that don’t appreciate the value of a good board and the positive impact it has on a company.”

Mergers & Acquisition for Growth

Another aspect of Howard & Company ’s services utilised by Enprise Solutions was their skill in assessing the value of possible acquisitions and determining their potential for success in the market. To that end they assisted Enprise Solutions to acquire EMS-Cortex back in 2006 as part of an investment funding package negotiated with TMT Ventures.

Shareholder Exits to Return Value

Howard & Company then oversaw the sale of EMS-Cortex to Citrix in 2011, thereby enabling TMT Ventures to realise a great return on their investment and Mark Loveys to lead a management buyout of Enprise Solutions in 2012.

Key outcomes

According to Group Chief Executive Officer Mark Loveys “They were invaluable to us on so many levels. They were totally focused on delivering the best results for our business and in the long term they provided us with strong guidance, broad market knowledge, experience and governance. They helped grow our business on an international stage and ultimately guided us through the sale of the business to maximise the return to shareholders.”

“We are now the largest reseller of MYBO EXO in New Zealand and have approximately 100 resellers all around the world selling our products. Howard & Company have been instrumental in helping us achieve impressive growth since we began working with them in 2006. We now have offices in Auckland, Waikato, and Wellington and have recently opened offices in Melbourne and Sydney,”