FDTEK Holdings Ltd (United Kingdom) - Jan 2008

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01 January 2008

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In a first institutional funding round, Catapult Venture Managers has led a £500,000 investment into FDTEK Holdings Ltd, a provider of software solutions to the commercial vehicle industry, taking a significant minority stake in the business. Catapult contributed £330,000 to the round, with additional participation coming from E-Synergy and several private investors. The investors were attracted to the deal by the scalability of the business, which has the potential to impact heavily on a large and lucrative industry. The new capital will be used to complete the development of a new web-based version of the company’s software and take it through to launch.

Company

FDTEK’s data management software solutions are used in more than 200 individual sites around the UK, with a customer base that includes many major brands within the commercial vehicle sector, including DAF and Iveco. The launch of R2C, the web-based version of the software, will create a national data network for the management and communication of commercial vehicle inspection and maintenance records, enabling data sharing across all parts of the supply chain. FDTEK was founded in 2004 and is based in Derbyshire. The company currently employs approximately 15 staff and generates annual turnover in excess of £500,000.

People

Graham Mold led the investment for Catapult. Lawrence Vaughan, chairman of prestige vehicle retailer Sytner, has joined the board following the round.

Advisers

Equity - Berryman, Duncan James (Legal)

Sourced from: UK & Ireland unquote" 363 (Feb 2008)