SM&B advise PEX Software, a London-based company that serves PRS market, on acquisition by US-based RealPage Inc. in deal worth $6.2m

Members of our Corporate, Employment, IP/Tech and Property teams, led by Corporate Partner Natalie Wright, have advised PEX Software – who provide property management, online leasing and resident software solutions that manage private rental sector (PRS) and student rental housing properties – in a deal that saw the UK company acquired by US-based RealPage Inc.

The acquisition involved complex international negotiations, culminating in the successful purchase of PEX’s entire enterprise. RealPage believes PEX will help secure a leading market position in the high-growth PRS segment of rental housing in the UK and serve as a launching pad for expansion into the European Union. Philip Evans, CEO and founding shareholder of PEX, said: “My team and I have already started integrating our solutions with RealPage’s solutions, enabling our clients to benefit quickly from the synergies.”

The success of the deal was enabled by the positive relationship established between our team, headed by Natalie Wright, and key contacts in the PEX team; CEO Philip Evans and Matthew Katz, Corporate Finance Partner at Buzzacott Chartered Accountants, who handled the transaction. Their support and clear communication at each stage of negotiations has been greatly effective in reaching a successful outcome.

Of SM&B, Philip Evans has said: “This was a little like David and Goliath and Natalie and her team had to go the extra mile to overcome a number of issues over a protracted (and occasionally challenging) period of time. Natalie has a pragmatic approach which served both parties well. A good job done, much appreciated by all the team here at PEX.”

We wish PEX every success in the next stage of their development.