Bahrain: Investcorp Technology Partners, a leading European lower middle market technology investor, today announces that it has completed its acquisition of Ubisense’s SmartSpace business unit, including the Ubisense brand, for up to £35m. The investment is the fifth deal from Investcorp’s Technology Fund IV.
Ubisense’s SmartSpace is an enterprise software and sensor platform that generates and interprets vast amounts of location data to create digital visibility of real-world objects and their interactions in real time, enabling complex manufacturing processes with high levels of variability to be more flexible, easier to manage and easier to control. The solution generates meaningful and demonstrable Return on Investment on the cost of Smartspace’s service to their blue-chip customers.
For the year ended 31 December 2017, the company generated £10.8m in revenue, growing by approximately 30% p.a. since 2015.
Commenting on the investment, Gilbert Kamieniecky, Managing Director and Head of Investcorp’s Technology Private Equity business, said: “Ubisense is an excellent addition to our Technology Partners portfolio. The Company’s Real-Time Location Solution product is, I believe, revolutionary within the Industrial Internet of Things space and we have been impressed by the strength and depth of the management team. With our expertise in working with fast-growing and data-driven businesses, Investcorp is looking forward to supporting the Company’s targeted growth trajectory and Ubisense’s expansion plans.”
Andy Ward, founding member and Chief Technology Officer of the business, added, “We are very pleased to have found a partner in Investcorp and recognize their expertise in backing technology and software businesses. This expertise, combined with their deep understanding of our business, will help position the company to drive profitable future growth and innovation. The investment is testament to the attractive product offering and leading technology we have built over the last few years and we look forward to this exciting new chapter.”
Investcorp has established a market leading position of investing in lower mid-market technology companies with a specific focus on the Data / Analytics, IT Security and Fintech / Payment sectors. Investcorp’s other investments from its fourth fund include softgarden, a Human Resources software provider; Calligo, a proprietary cloud solution company; Ageras, an online marketplace matching SMEs with professional service providers; and Impero, a provider of online student safety and classroom and network management software. Investcorp has raised over $1.5 billion in funding for lower middle market technology investments since 2001.
Investcorp is a leading global manager of alternative investments. Led by a new vision, Investcorp has embarked on an ambitious, albeit prudent, growth strategy. The Firm continues to focus on generating value through a disciplined investment approach in four lines of business: private equity, real estate, absolute return investments and credit management.
As at June 30, 2018, the Investcorp Group had US$22.6 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM.
Since its inception in 1982, Investcorp has made over 175 Private Equity deals in the U.S., Europe, the Middle East and North Africa region and Asia, across a range of sectors including retail and consumer products, technology, business services and industrials, and more than 600 commercial and residential real estate investments in the US and Europe, for in excess of US $57 billion in transaction value.
Investcorp employs approximately 390 people across its offices in Bahrain, New York, London, Abu Dhabi, Riyadh, Doha, and Singapore. For further information, including our most recent periodic financial statements, which details our assets under management, please visit: www.Investcorp.com.
Investcorp FTI Consulting
Firas El Amine Fergus Wheeler
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© Press Release 2019