Founded in 1972 and headquartered in Chelmsford, Systematics International is recognised for its expertise in aggregating and reporting machinery volume statistics for global closed and open data exchanges. With this acquisition, Kynetec aims to expand its reach in tracking the machinery market across the globe while adhering to data compliance rules surrounding these data exchanges.
Christine Bhatt, Chief Executive Officer, and Manuel Bhatt, Chief Finance and Strategic Planning Officer, along with their team of programmers and data analysts, join Kynetec as part of the acquisition.
The Rickard Luckin team, led by Mark Brooks (Corporate Finance), received invaluable assistance from the Corporate Tax, Accounts and Business Consulting teams.
Mark Brooks, Head of Corporate Finance and Director at Rickard Luckin, expressed his satisfaction with the transaction: “It was a pleasure to advise Christine and Manuel on the sale of Systematics International to Kynetec. As a firm, we have been involved with Systematics since the owners acquired the business through their management buyout in 2007. Over that period, we have worked closely with them, providing outsourced services in bookkeeping, management accounting, and payroll."
Christine Bhatt, Chief Executive Officer at Systematics International, commented: “Having managed a high growth business, Manuel and I had always planned for an eventual exit with Rickard Luckin involved in these reviews at regular intervals. The monthly management accounts enabled us to identify and bridge gaps, investigate opportunities of diversifying the Systematics business portfolio and ultimately making the business “deal fit” for a potential sell. The support provided by Rickard Luckin has been exemplary, allowing us to take a long-term view of the business. Crucially, they’ve taken the time to really understand our business and proactively worked alongside us every step of the way. The advice we’ve received throughout our relationship has been pivotal in our growth and helped us achieve our aims and objectives."
Together with Systematics, Kynetec plans to explore opportunities for expanding open data exchanges, with a particular focus on the Global Registrations Data Monitor (GRDM). The GRDM is an advanced platform that collects European machinery registration data from official bodies, allowing rapid aggregation and reporting of data for new machinery registrations, while ensuring compliance with data regulations. By blending the existing GRDM data with Kynetec's global crop protection and seed market data, the companies aim to provide deeper insights into the agricultural machinery sector.
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