10/11/2016

Entrepreneur Simon Powell launches InspireTec

TECHNOLOGY entrepreneur Simon Powell has closed the gap in his portfolio’s existing service provision with the launch of a new business ‘super group’ known as InspireTec.

InspireTec will support the delivery of comprehensive, ‘one stop’ business support packages through the unison of four companies, and through the forthcoming addition of Mr Powell’s latest acquisition, digital agency Sequence.

The group will offer business clients a major opportunity to take advantage of a vast range of expertise – from enterprise class transactional systems, the latest in predictive personalisation and CRM tools, innovative web design services, through to financial systems advice and the maximisation of online marketing spend - in a single source.

As such, those now operating under InspireTec include ecommerce experts Eysys, financial management and systems specialist Clarius Finance, and the software company Mr Powell first set up almost two decades ago, global travel technology sector giant Comtec.

Mr Powell said: “As an investor of some 20 years’ experience, I have been involved in the creation, support and expansion of a wide range of commercial ventures, and in many ways the launch of InspireTec could be seen as the culmination of all those experiences.

“As a single entity, InspireTec has been formed to provide existing and future clients with a level of expertise from a single source or a complete one stop solution. The group will comprise of over 100 highly skilled professionals in their field.

“As an entrepreneur there is nothing more gratifying than supporting any business in achieving its full potential, and in simplifying our own processes we will be able to support more than ever in taking full advantage of everything our portfolio now has to offer.

“With our head office in Wales we are committed to helping the Welsh economy grow and provide employment to a significant number of skilled IT and software specialists as well as train graduates from Welsh universities.”

Following rapid expansion at Comtec, the company was subsequently sold in a £27million buyout deal in 2008. Mr Powell went on to buy back the travel software specialist, however, and his original venture was re-introduced to his now expansive business portfolio in 2014.

Supporting this acquisition was Welsh SME investor Finance Wales. Commenting on the formation of the new group Deputy Portfolio Manager, Gareth Price, said: “Simon is an experienced investor with an excellent track record. We’re delighted to have been able to support him and Comtec over the last two years through to the creation of the InspireTec group.  It is an exciting time for the company with its new wide range of services and we wish the InspireTec team every success for the future.”

Under InspireTec the group, which comprises the largest vendor of specialist tour operator and retail systems in the UK travel technology sector Comtec, will collaborate with Eysys and Clarius to provide clients with an ever expanding knowledge base of expertise.

With a team comprised of experienced finance directors and business advisers, Clarius Finance offers a depth of experience in the delivery of a wide range of solutions from business turnarounds, to re-financing support. Eysys, a fast-growing technology company, meanwhile specialises in intelligent ecommerce prediction personalisation and CRM systems to help clients make the most effective return on their investments both in the online and offline market place.

In addition a new investor Westminster Group has come onboard and is taking a share of the InspireTec group. Bradley White of London-based Westminster Growth Capital, lead adviser to the Westminster Group, says: “Westminster is delighted to be investing in InspireTec, a business which we believe has significant potential in a key market sector and with the in depth resources already in Wales, Westminster is very excited to be part of the InspireTec ‘super group’.”

CEO of Clarius, Matt Wakerley, who becomes Chief Financial Officer of the InspireTec group as part of the deal, said: “It’s an extremely exciting time for all of us involved in the launch of InspireTec, and we can’t wait to see the benefit to businesses both in Wales and further afield that are set to follow as they play out in real time.

“Having specialised in the successful growth of various fast developing and turnaround businesses with Clarius Finance, the prospect of what can now be achieved in providing a whole new level of business support to ventures on a collaborative scale is very exciting indeed.”