HSBC regional fund sells WCBS

HSBC Fund for the South West, a UK regional venture fund, has sold West Country Business Systems (WCBS), a supplier of software solutions to the education sector, for an undisclosed sum to Westleigh Investments.

The sale was managed by Equity Ventures, a London based venture investor and arranger. The HSBC Fund backed an MBO of WCBS in 1998, and alongside the management team, has sold 100% of the company to Westleigh.

WCBS is a 20-year old company that is based in North Somerset, employing 37 people and produces PASS, a suite of administration and accounting software for schools in the UK.