Amadeus divests Nomad to trade buyer Alstom

Kenny Wastell
21 December 2016

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Amadeus Capital Partners has agreed to sell its stake in Nomad Digital, a UK provider of commercial wifi networks, to French trade buyer Alstom.

Since the VC's initial investment, the business has expanded internationally, with recent contracts signed to provide wifi on trains in Italy, the Netherlands and the US. It has undertaken an acquisitive growth strategy, bolting on QinetiQ Rail in 2007 and Germany-based Inova Multimedia in March 2013.

The deal comes one year after the business undertook a refinancing deal, in which Silicon Valley Bank provided a £1m term loan and a £6m working capital facility.

Deutsche Telekom Strategic Investments and the venture arm of Nordic corporate bank SEB were also among the selling consortium. The transaction is expected to complete in the first quarter of 2017.

Previous funding
Amadeus led an £8m funding round for Nomad in August 2006, with T-Mobile Ventures also taking part in the deal.

SEB and North Star Ventures led a £6m funding round for Nomad in July 2008, with Amadeus and T-Mobile Ventures also taking part in the deal.

Nomad then raised £3.9m from Amadeus, SEB and Deutsche Telekom in November 2015, before raising a further £3.9m in April 2016.

Company
Founded in 2002, Newcastle-headquartered Nomad provides wifi networks for use on trains. The business has a headcount of 230 with operations in 13 countries including the UK, the Netherlands, Germany, Portugal, Canada, Australia and the US. According to publicly available documents, the business generated a turnover of £42m in the year ending June 2015, with EBITDA of £1m.

People
Amadeus Capital Partners – Anne Glover (CEO).
Nomad Digital – Andrew Taylor (CEO).