Dictate IT sold to Clanwilliam Group
Silverpeak followed a twin-track private equity and strategic process to find the ideal home for Dictate IT
Who are they
Dictate IT is a leading provider of digital dictation, outsourced transcription, and speech recognition services. The company works with 27 healthcare providers in the UK and Ireland.
The acquisition was part of Clanwilliam Group’s M&A strategy, which launched in 2014. Dictate IT will be able to expand its reach and make further investments in its solution. The company can also realise the benefits of partnering with other businesses in the Group to strengthen its market position.
What was our involvement
We worked with Dictate IT throughout the process:
- Preparation phase
- Identifying and contacting counterparties
- Negotiating the deal terms with multiple parties
- Managing the process through to completion
Commenting on the deal, Paddy MccGwire, Managing Partner at Silverpeak, said: “This is another successful health-tech company sale to a strategic acquirer. For this sale, we followed a twin-track private equity and strategic process. I have been impressed with how Dictate IT’s Managing Director, Mark Miller, has developed the business over the past 14 years. This has included developing its proprietary medical speech-recognition engine, which was built on a state-of-the-art DNN (Deep Neural Net) acoustic model and using cutting edge RNN (Recurrent Neural Net) language rescoring. The latter solution outperforms all other solutions currently available and has achieved the market leading position. The sale to Clanwilliam Group means Dictate IT can accelerate its growth trajectory in an entrepreneurial culture. The simultaneous sale of its Indian associate company added complexity to this multi-jurisdiction transaction.”
I would recommend Silverpeak without hesitation. The sale of a company is, for most, the culmination of many years of work. The outcome of the sale will likely define much of the hope and aspiration for the years ahead. It is important to get it right and to choose people who are committed to the best outcome. The Silverpeak team work extremely hard, are capable and knowledgeable, and involve themselves in every aspect of the transaction. They maintain a steady focus on the outcome and a good humour, which is important when dealing with such important matters.