Bowmark Capital, a mid-market private equity firm, has recently invested in Turnkey IPS, a leading software solutions provider for the insolvency industry. This strategic partnership aims to support Turnkey’s growth and development, leveraging Bowmark’s expertise in the sector. Established in 1980 by Dr. Barry Wood, Turnkey has become a market leader, serving over 300 clients across ten jurisdictions. The investment will facilitate further expansion, innovation, and international reach, marking a significant milestone in Turnkey’s journey.
Turnkey’s Growth and Market Leadership
Turnkey IPS has established itself as a prominent player in the insolvency software market. Founded by Dr. Barry Wood in 1980, the company has grown to serve over 300 clients worldwide. These clients range from sole practitioners to international accounting firms, highlighting Turnkey’s broad appeal and reliability. The company’s software solutions are designed to enhance efficiency and compliance, meeting the evolving needs of the insolvency sector.
The partnership with Bowmark Capital is expected to accelerate Turnkey’s growth. Bowmark’s investment will enable Turnkey to invest further in technology and product development. This will help the company maintain its competitive edge and continue to innovate in response to market demands. Additionally, the investment will support Turnkey’s plans for international expansion, allowing it to reach new markets and clients.
Turnkey’s Chief Operating Officer, Deborah Baxter, will step into the role of Chief Executive Officer. This leadership change is part of the company’s strategy to drive its next phase of growth. Baxter’s experience and vision will be instrumental in guiding Turnkey through this exciting period of transformation.
Strategic Partnership with Bowmark Capital
Bowmark Capital’s investment in Turnkey IPS is a testament to the firm’s confidence in Turnkey’s potential. Bowmark has a strong track record of investing in market-leading software businesses. This partnership will provide Turnkey with the resources and expertise needed to achieve its ambitious growth targets. Bowmark’s support will be crucial in helping Turnkey navigate the challenges and opportunities of the digital age.
The investment will also facilitate the development of Turnkey’s IPS Cloud platform. This innovative solution is designed to meet the needs of insolvency practitioners in the UK, Australia, and beyond. By leveraging Bowmark’s network and resources, Turnkey aims to enhance its product offerings and deliver even greater value to its clients.
Tony Wood, the outgoing Chief Executive of Turnkey, expressed his excitement about the partnership. He highlighted the potential for growth and innovation that Bowmark’s investment brings. Wood will transition to a non-executive role, continuing to support the company in an advisory capacity. His experience and insights will be valuable as Turnkey embarks on this new chapter.
Future Prospects and Industry Impact
The investment in Turnkey IPS is expected to have a significant impact on the insolvency software industry. With Bowmark’s backing, Turnkey is well-positioned to lead the market in terms of innovation and growth. The company’s focus on digital solutions and efficiency will resonate with clients facing increasing workloads and regulatory demands.
Turnkey’s commitment to continuous improvement and client satisfaction will be strengthened by this partnership. The investment will enable the company to enhance its product suite and expand its reach. This will benefit not only Turnkey’s existing clients but also new clients in emerging markets.
Peter Little, who will join Turnkey’s board as non-executive chairman, brings extensive experience in growing financial services software companies. His expertise will be invaluable in guiding Turnkey’s strategic direction. Little’s appointment underscores the company’s commitment to excellence and growth.
The future looks bright for Turnkey IPS as it embarks on this exciting journey with Bowmark Capital. The partnership is set to drive significant advancements in the insolvency software sector, benefiting clients and stakeholders alike. Turnkey’s innovative solutions and Bowmark’s strategic support will pave the way for continued success and industry leadership.
