BGF invests £11.6m in Invenio

A newco was set up for the transaction under the name Invenio Business Solutions Holdings. Invenio director Manish Goyal owns a 75% stake in the holding company.

The fresh capital will be used to expand the business and improve its services, as well as supporting bolt-on acquisitions.

BGF investor Alex Snodgrass will join Invenio's board of directors.
Invenio has secured an asset-backed loan from Barclays, according to publicly available documents.

Company
Invenio was founded in 2006 and is headquartered in Reading. It provides a range of software solutions and consulting services to its clients in the media, manufacturing, logistics and public sector segments. IT employs 750 people in the UK, India, Mauritius, Saudi Arabia, Fiji, the US and UAE. Its customers include Universal Music Group, Kuehne & Nagel, the BBC and the Fijian and Saudi Tax authorities. It generated operating profit of £7.1m from sales of £25.5m in 2018, according to publicly available documents.

People
BGF – Alex Snodgrass, Jack Teasdale, Tim Rea (investors).

Advisers
Equity – Wilson Partners (corporate finance); Field Seymour Parkes (legal).
Company – PwC (financial due diligence); RSM (corporate finance); WBD (accounting due diligence); CIL (commercial due diligence).

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• Topics
• Buyouts
• UK / Ireland
• Technology
• United Kingdom
• BGF (Business Growth Fund)
• Minority investing