CBPE invests in Mindera

Harriet Matthews
02 March 2021

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CBPE Capital has acquired a minority stake in UK-based software business Mindera.

The deal is the GP's first investment from CBPE Capital Fund X, which held a final close in November 2020 on its hard-cap of £561m. The vehicle invests in UK businesses with enterprise values of £25-150m, providing an average ticket size of £30-35m.

CBPE partners Ian Moore and Jolyon Latimer will join Mindera's board. John Lane, an adviser to co-founder Paul Evans, will also join the board as chairperson.

Company
Founded in 2014 and with its UK headquarters in Leicester, Mindera provides software systems for businesses that aim to enhance their digital capabilities. The company assists its clients with technology development and consulting, as well as product development and subsequent scaling and performance testing.

Mindera employs 600 staff across eight offices in Europe and the US. According to a statement, the company has experienced compound annual growth rate of 40% since its foundation.

People
Mindera – Paul Evans (co-founder).
CBPE Capital – Ian Moore (partner); Jolyon Latimer (partner); James Whittington (investment director); Oliver Walton, Gessica Howarth (investment managers).

Advisers
Equity – Addleshaw Goddard (legal); PwC (financial due diligence, tax); CIL (commercial due diligence); Intechnica (IT due diligence); AJ Gallagher (insurance due diligence).
Company – Shakespeare Martineau (legal); TC Group (financial due diligence, tax); Julia Berkeley Cotter (legal).