Established by Dr Barry Wood in 1980, Turnkey has grown to become the market leader for corporate restructuring and insolvency software, providing solutions to over 300 clients, from sole practitioners to international accounting firms, spanning 10 jurisdictions worldwide.

As part of the transaction, Deborah Baxter, currently chief operating officer, will become chief executive, while Tony Wood will transition to a non-executive role. In addition, Peter Little will join Turnkey’s board as non-executive chairman, bringing extensive experience of growing financial services software companies.

Tony Wood said: “We were pleased to have Macdonald Henderson as part of our deal team. Macdonald Henderson have worked with the Turnkey Group and the Wood family for over a decade, so with their knowledge and understanding of the business we were able to drive a quick and efficient legal process. We are grateful for the outstanding support and advices of David (Beveridge) and Laura (McKnight) throughout this transaction.”