Investcorp acquires Impero from Connection Capital for £27.5m

The company was sold by Connection Capital, a private investment business that allows its backers to consider investing in deals on a case-by-case basis. Its exit enabled Connection investors to score a 3.1x value growth over the three-year holding period.

Investcorp plans to boost Impero's international growth both organically and with potential add-ons. Investcorp used capital from its fourth technology fund, which held its first close in November last year after its launch in September. It focuses on the European lower-mid-market.

No leverage was used in the deal, but a working capital facility is being provided by Silicon Valley Bank. 

Previous funding
In May 2014, clients of Connection completed a £4m investment in the £10m management buyout of Impero. Further funding was provided in 2015.

Company
Founded in 2002, Impero's software allows schools to keep students safe online, improves the teaching environment and improves efficiency for school network managers. It is headquartered in Nottingham with another office in California. Impero currently services around 1,400 secondary schools and its latest annual revenue figure was around $10m.

People
Investcorp – Gilbert Kamieniecky (managing director).
Impero – Sam Pemberton (CEO).

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• Secondary buyout