Lyceum acquires £28m stake in Sabio

The GP has invested £28m in the growth capital deal in exchange for a 56% stake in the business. Lyceum will also provide further funding to support the company’s buy-and-build growth strategy.

Sabio will look to expand internationally, with a particular focus on continental Europe.

Upon completion of the deal, Sabio COO Andy Roberts will be promoted to CEO, while chairperson Lee Shorten will continue in his current capacity. Lyceum partners Simon Hitchcock and Geoff Neville will also take a seat on the board.

The company’s founders, including outgoing CEO Seb Henkes, will retain a stake in Sabio and remain actively involved in the business.

Company
Founded in 1998, London-headquartered Sabio provides consultancy and support related to call centre operations, internal communication systems and IT. The business has additional operations in Glasgow and Singapore.

Sabio has partnership agreements with companies including Avaya, Nuance and Verint, with a client roster including DHL and British automobile club AA. It generates a turnover of £40m.

People
Lyceum Capital – Simon Hitchcock, Geoff Neville (partners).
Sabio – Lee Shorten (chairperson); Andy Roberts (CEO).

Advisers
Equity – Cannacord Genuity, James Craven (corporate finance); Pinsent Masons, Andrew Masraf, Fiona Kindness (legal); CIL, Sebastian Chambers, Liam McGuinness (commercial due diligence); KPMG, Phil Abram, Aamer Hassan (financial due diligence); PwC, Seema Ahmedabadi (tax).
Company – Grant Thornton, Andy Morgan, Anthony Platt (corporate finance); Norton Rose Fulbright, Sean Murphy, Sophie O’Connor (legal).

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• Topics
• Expansion
• UK / Ireland
• Support services
• United Kingdom
• Horizon Capital (formerly Lyceum Capital)