Private equity investor sells shareholding in software firm
Leeds-based YFM Equity Partners-advised funds has sold its shareholding in GroupBC to Bentley Systems Incorporated for an undisclosed sum.
Bentley is a global provider of software and digital twins services for advancing the design, construction, and operations of infrastructure,.
GroupBC is a provider of enterprise-scale information management systems for construction-related projects and asset owners.
A YFM spokesman explained: “YFM has been supporting the growth of UK SMEs since 1982. GroupBC was backed by British Smaller Companies VCT and British Smaller Companies VCT2 – both of which are advised by YFM.
“The exit has delivered a money multiple return, well in excess of 3x for the investors.”
Wes Simmons, CEO of GroupBC, said: “GroupBC has scaled strongly since the YFM-backed MBO in 2014, breaking new ground with project and asset information solutions for the built environment.
“We worked closely with YFM, who were a hugely supportive partner, to invest in the sales and operational capabilities of the business and execute our strategy.”
James Savage, Partner at YFM, said: “We backed an ambitious management team in 2014 that has delivered on its plan to position GroupBC as a market-leader and innovator in asset information management systems.
“It has grown revenues and profits significantly and its customers now include some of the largest infrastructure projects in the UK.
“We are delighted to have delivered strong returns for our investors with this exit.
“It is an added bonus to support the GroupBC management team in its endorsement of Bentley Systems as an ideal strategic acquirer to support its colleagues and customers, and to further extend the value of GroupBC offerings into more comprehensive digital twin solutions.”
YFM and the management team were advised by KPMG Corporate Finance (Graham Pearce, Ben Taylor, Ekrem Shahin and Georgia Watt) and Gateley Legal (Rebecca Grisewood, Kate Richards, Poppy Ball).
