Livingbridge invests in TitanHQ

This is the firm's first investment made through Livingbridge's Enterprise 3 fund, which invests in SMEs with enterprise values of up to £50m. The fund closed on £334m in October 2019.

No debt will be used by the firm for the acquisition. Livingbridge will also have a seat on the company's board. 

A newco has been established and Livingbridge has acquired a minority stake in the company. Oyster Technology Investments, which invested in TitanHQ at inception, will continue to maintain a significant stake in the business. 

The company's management team will stay on with the business.

The investment will go towards product development and hiring.

Company
Headquartered in Galway, Ireland, and with offices in Tampa, Florida, TitanHQ provides managed service providers and businesses with advanced web filtering, email security and email archiving products and services. The business was founded in 1999 and has a headcount of more than 50 people.

People
Livingbridge – Nick Holder (director).
TitanHQ – Ronan Kavanagh (CEO).

Advisers
Equity – GCA Altium (corporate finance); Addleshaw Goddard (legal); Fairgrove (commercial due diligence); BDO (financial due diligence).
Vendor – Oppenheimer & Co (corporate finance).

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