Transaction Details

September 15, 2015
Manchester, New York

Sector

Technology

Deal Type

M&A

Deal Value

N/D

Deal Team

Adrian Reed, Dominic Orsini, Jon Stead

GCA Altium advises TotalMobile on a majority investment by Lyceum Capital

GCA Altium acted as financial advisor to the selling shareholders of TotalMobile, the UK’s market-leading developer of enterprise mobility software, in securing a significant investment from growth investors Lyceum Capital to fund further product development and expand its market presence within the UK and internationally.

Based in Belfast, TotalMobile supplies cloud-based, on-premise and software-as-a-service (SaaS) products to over 30,000 workers across the healthcare, local government and private sectors including oil and gas, utilities and facilities management. Its software is used by more than 200 organisations including blue chips such as Virgin Care and Allianz Engineering.

This latest transaction sees GCA Altium build on its leading position in European technology advisory, having completed 11 transactions in the last 12 months. Other recent deals include the sale of a 25% minority stake in SoftwareONE to KKR, the sale of AXIT to Siemens and the acquisition of KCS.net by Avanade (a joint venture between Accenture and Microsoft).

GCA Altium ran a dual-track process for the shareholders of TotalMobile, utilising its highly experienced international technology team to approach both global investors and strategic parties. Working alongside US investment bank Petsky Prunier, the firm managed a competitive bidding process, achieving a highly attractive valuation and securing a full exit for the previous backer MMC Ventures at an 11x return.

The transaction sees Lyceum Capital take a majority stake, and will enable TotalMobile to accelerate its new product development, particularly around its SaaS offering. The firm is now looking to expand into international markets through its partnership with the likes of Vodafone, Capita and Aenova, as well as moving into new verticals to capitalise on the growing demand for workflow management and improved productivity from an ever-expanding mobile workforce.

Adrian Reed, Managing Director at GCA Altium, said: “GCA Altium is delighted to have been able to work with the TotalMobile team. TotalMobile has one of the most exciting software offerings we have seen, with a world leading product designed for the ever changing landscape of smartphones, tablets and soon to be wearable devices. Its intuitive software revolutionises working practices creating operational efficiencies across multiple verticals from healthcare, government to industry. With Lyceum as its new partner, TotalMobile has a huge opportunity in a growing global mobile workforce in excess of 1.3 billion people and approaching $500bn of associated annual IT spend.”

Colin Reid, Chief Executive at TotalMobile, said: “I cannot speak highly enough of GCA Altium. Adrian and the team were so professional, committed and flexible and nothing was too much trouble. They took the time to really get to understand our business and then ran an excellent process, providing sound advice throughout. This ensured that we achieved a great outcome for everyone at TotalMobile. I have no hesitation in strongly recommending them.”

Jon Coker, Partner at MMC Ventures, said: “I have been impressed by Adrian, Dom, Jon and the team at GCA Altium, they have been instrumental to ensuring a smooth process that has run to plan. They have very strong depth in the team and a tremendous work ethic. I look forward to working with them again.”

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