Trade Interchange provides supplier management software that facilitates various organisations to reduce the risk and costs associated with managing large supplier bases. Their customers include NHS professionals, Sodexo, Whitbread and more. Their software is used by companies in 28 countries with 10 languages supported on the platform.
With this new support from Everfield they will be able to begin their plan to double in size in the coming years. The co-founder and chief-executive of Trade Interchange, Mike Edmunds will continue to lead the business. The acquisition also enables four other shareholders to exit the business.
This is Everfield’s 19th acquisition in Europe. They were given advice regarding technology from Shiker consulting.
Q&A with Shiker Consulting
Can you expand on the level of support you provided Everfield throughout this acquisition and tell us about the area of advice you were there to offer?
Shiker Consulting is a technology partner to Everfield, supporting them on Tech Due Diligence and providing Technology advisory during acquisition processes. We have been working with Everfield since 2022, and have been part of most of their acquisitions, supporting them particularly on SaaS acquisitions.
What roles were necessary in your team and who was collaborating on this acquisition from Shiker Consulting?
Shiker is a boutique Tech Consulting firm with experienced consulting practitioners. Our team is led by Shiv, who has been a CIO for a £2bn SaaS global company previously. Tech DD team is led by Robert, who has previously led the Cloud Practise for global SaaS company. Tech DD is supported by Satya, who has completed 100+ M&A transactions, including 70+ IT/Tech DDs.
We collaborated closely, to provide the insights needed for Everfield to evaluate Trade Interchange from a tech perspective.
Shiker Consulting prides itself on providing value for money Tech Due Diligence Services specifically in the area of B2B software companies. We follow a 6-pillar approach in evaluating firms by analysing their Product portfolio and Roadmap, Tech Architecture, Software and Development practices, People skill set and Org structure, Security/Compliance and Customer Success.
Why was the advice provided from your team imperative for Everfield and what would have been the consequences had they neglected this area?
It is critical that Everfield is fully aware of the tech landscape of the organisations they acquire. Without completing Tech DD, Everfield likely may not proceed with further stages of due diligence, or even to acquire an organisation.
In that scenario, advice from Shiker becomes one of the key factors towards progressing the deal to the next stage. Also, we make Everfield aware of the key areas they need to work on post the acquisition, so that the Operations team start the pre-work earlier, thereby advancing the portfolio improvement lifecycle.
Would you tell us about the impact of this acquisition, how do you believe this will benefit both parties involved?
Everfield’s strategy is to acquire growing B2B software firms and provide them with the right support to continue their success and to taking their achievements to the next level. We believe that Trade Interchange has a great partner in Everfield who will support their growth and help to expand into new markets. Trade interchange adds a modern and mature SaaS product to Everfield’s portfolio of Supplier Management software, thereby strengthening the range of services that Everfield’s SaaS products can provide.
Shiker’s expertise in evaluating SaaS organisations and software offerings is quite broad, which contributed to the smooth and swift completion of this transaction.
