Sheffield, UK-based information logistics company ISE Ltd has staged a management buyout, with finance put up by information technology investment firm The Comino Group Ltd. Comino will take a 65% stake in the company, and ISE will become part of the Group, making Comino a 10m pound concern. The remaining shares are held by ISE managing director Ted Brierley and sales and marketing director Denise Harrison. ISE, founded in 1990, has concentrated on electronic document management and workflow for Microsoft Corp Windows and Oracle Corp systems, and says it has been profitable since 1993. It sells pension administration and human resources packages to Times Top 100 companies. The object of the buyout is to fund a projected 100% revenue grow th by 1999. The Comino Group was founded by Azlan Group Plc chairman Mike Brooke and Gordon Skinner, founder of systems distributor TIS Ltd. Other firms within the group include housing association software firm Context and fashion industry specialist Prologic.
