Tenzing-backed Ticketer buys Fara

The acquisition will increase Ticketer's European market presence and broaden its product portfolio, according to a statement.

Tenzing acquired UK-based Ticketer in October 2018, with the aim of expanding the company's national and international market share. The GP invested from Tenzing Private Equity I, which held a final close in January 2017 on £200m. Ticketer was the GP's fourth investment from the vehicle.

Company
Fara has seven offices in six countries, including Norway, Sweden, Finland, Denmark and Poland. It offers ticketing and location-based services for public transport, including fleet management services for operators, and smart cards for travelers. Around 3.3 million travellers use Fara each week, according to its website.

The company was founded in 2005 and has a headcount of 100. The group was formed via the de-merger of Norwegian electronic toll collection business Q-Free's Automatic Fare Collection division. 

People
Ticketer – John Clarfelt (CEO, co-founder); Guy Gillon (managing director).
Fara – Ørjan Kirkefjord (CEO).

Advisers
Equity – Alpha Corporate Finance (corporate finance); Clearwater International (corporate finance); PwC (corporate finance); Osborne Clarke (legal); Aabø-Evensen & Co (legal); Fairgrove (commercial due diligence).

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• Topics
• Expansion
• UK / Ireland
• Technology
• Build-up
• Acquisition finance
• United Kingdom
• Tenzing
• Osborne Clarke
• Clearwater
• PwC