EmergeVest backs Atheon Analytics in MBO

Alessia Argentieri
20 August 2018

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Hong Kong-based EmergeVest has acquired a minority stake in Atheon Analytics, a provider of visual analytics for grocery retailers and suppliers.

Unquote understands that EmergeVest bought a 25% stake in the company with a £5m investment that included preferred equity and debt.

A newco was created for the transaction.

EmergeVest completed the investment using its own balance sheet. This acquisition, alongside recent investments in Adjuno and Groove Technology, are part of an EmergeVest initiative to develop strength in software and technology, the firm told Unquote.

The GP specialises in investing in supply chain opportunities, spanning logistics and related technology around the world. It held a final close on $205m for its Emergevest Logistics Fund in March 2017.

The company intends to use the additional capital to accelerate its growth plans by applying edge technology to its SaaS portfolio for the UK grocery supply chain and by extending the reach of its SKUtrak to 3,000 suppliers of the top 10 UK grocers.

Atheon's founder, CEO and existing investors Guy Cuthbert and commercial director Ian Hall will continue to serve in their respective roles and will be joined by Craig Sears-Black, a software industry leader, who has been appointed as non-executive chairman.

The GP was attracted to the potential for Atheon's advanced data analytics to deliver actionable insight to an ever-expanding portfolio of customers and across the EmergeVest family of businesses, according to a statement from Heath Zarin, CEO and managing director of EmergeVest.

Company
Founded in 2005 and headquartered in Cranfield, Bedfordshire, Atheon provides visual analytics to grocery retailers and suppliers in the UK. Its SKUtrak SaaS suite - a comprehensive sales and supply chain analytics tool - provides 500 suppliers to the ‘big four' supermarkets with data and interactive analysis of trading performance to help them improve availability, expand product offering and reduce waste.

People
EmergeVest - Heath Zarin (CEO, managing director).
Atheon Analytics - Guy Cuthbert (CEO); Ian Hall (commercial director); Craig Sears-Black (non-executive chair).

Advisers
Equity - Taylor Wessing (legal).