Rickitt Mitchell advises on the acquisition of Trade Interchange by Everfield

Supplier management software company, Trade Interchange, is targeting international growth after being acquired by, long-term B2B software investor, Everfield.

Manchester-based M&A advisory firm Rickitt Mitchell led the sale, with the deal team comprising partner Kaine Smith, manager James Kidner and corporate finance executive Naomi Hill.

Trade Interchange, based in Stockton-on-Tees, Teesside, provides software that helps some of the UK’s best-known organisations reduce the risks and costs associated with managing large supplier bases.

The company specialises in supporting customers in industries with high degrees of compliance risk, such as food and beverage, hospitality and healthcare. Customers include AAK, Apetito, NHS Professionals, Sodexo and Whitbread.

Founded in 2000, Trade Interchange has grown to have 30 employees and its software is used by companies in 28 countries globally with 10 languages supported on the platform.

With support from European-based Everfield, the company is seeking to accelerate growth by further increasing its presence within its core markets in the UK and Europe.

Trade Interchange will continue to be led by co-founder and CEO Mike Edmunds, alongside his existing senior leadership team. The acquisition enables four other shareholders to exit the business.

Kaine Smith, partner at Rickitt Mitchell, said: “Trade Interchange is a fantastic example of an innovative SaaS business in the compliance procurement software space, with a market leading ESG focussed proposition provided to enterprise grade clients both in the UK and globally. After a highly competitive process it was pleasing to see Everfield win with their considered, long-term investment approach.”

Mike Edmunds, CEO of Trade Interchange, said: “When we decided to explore the possibility of selling the company, we wanted to find a partner who understood our market, our value proposition, and our potential. Rickitt Mitchell ticked all the boxes, and I was impressed by their expertise, professionalism and enthusiasm.

“They guided us through the transaction, supporting myself and the team at every step of the way. They negotiated the best possible terms for us, managed the due diligence process, and ensured a smooth and timely completion. They were always available, responsive, and proactive, and they handled any issues or challenges with professionalism and integrity. I am very happy with the outcome of the sale, and I am grateful to Rickitt Mitchell for their invaluable advice and assistance. They were more than just advisers; they were partners and friends.”

James Moore, country manager for UK & Ireland at Everfield, said: “We were immediately impressed by Trade Interchange’s streamlined solution for managing supply chains, and won over by its strong and experienced team which has worked together for several years and developed strong relationships with customers.

“Bringing Trade Interchange into the Everfield ecosystem will allow us to provide the management team with the additional support, resources and knowledge that will help it to scale and drive international expansion.”

The acquisition of Trade Interchange is Everfield’s 19th acquisition in Europe overall and its third in the food and beverage vertical market.