Maven buys Envitia for £17m

The deal was fully funded with equity from the firm's debut institutional fund, Maven UK Regional Buyout Fund. The vehicle held a final close on £100m in March 2019 and was 30% deployed as of May 2019. It looks to invest in small and medium-sized businesses with EBITDA of £2-5m and enterprise values of £10-40m, writing tickets of £5-15m.

The current senior management team, led by CEO Nabil Lodey, was recruited in 2018 and will continue to lead the business following the transaction.

Company
Horsham-based Envitia is a data and geospatial technology provider to the defence and public sectors. The business is forecast to generate £8m in revenues in 2020, according to a statement, and reported £6m in revenues and £998,000 in EBITDA in 2019, according to public accounts. Envitia was founded in 2000.

People
Maven Capital Partners – Tom Purkis (partner).
Envitia – Nabil Lodey (CEO).

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