Volpi-backed CycloMedia bolts on Floating Point FX

With this acquisition, CycloMedia expects to strengthen its presence in North America, boost its international growth into additional markets, and enhance its data analytics capabilities and product offering. The combined group will provide a wide range of imagery data analytics services, including LiDAR scanning, 3D modeling and 3D real-time scene capture, offering platforms and tools for data visualisation, design and analysis. 

Volpi acquired a substantial majority in CycloMedia from Dutch GP Avedon Capital Partners in August 2018, in a deal that valued the company at around €100m. The company's management, having held a minority stake in the business under Avedon's ownership, reinvested in CycloMedia alongside Volpi.

To fund the transaction, the firm used its maiden fund, Volpi Capital Fund I, which closed in April 2018 with commitments of €185m. Employing around 140 employees, CycloMedia generated sales of €30m in 2017.

Company
Founded in 2011 and based in Madison, Wisconsin, Floating Point FX uses mobile LiDAR and imaging techniques to provide 3D data visualisations of street-level environments and imagery data analytics for a wide range of industries, including the transportation, utilities, communications and public works sectors. The company developed its own in-house software platform, Stout, which provides advanced asset and measurement extraction as well as innovative meshing and data visualisation. Floating Point FX employs 45 staff.

People
Volpi Capital – Crevan O'Grady (partner).
CycloMedia – Frank Pauli (CEO); Joe Astroth (CEO US).
Floating Point FX – Matt Eustice (co-founder).

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