Tuesday 01, August 2017 by Jessica Combes

Investcorp Technology Partners acquires online student safety provider Impero

 

Investcorp Technology Partners, a leading European lower middle market technology investor, has completed the acquisition of Impero Holdings Limited (Impero) for an enterprise value of GBP27.5 million for its fourth technology fund.  

Impero is a leading UK provider of online student safety, classroom and school network management software. The transaction marks Investcorp’s third technology deal in the lower middle market in the past nine months. 

Fahad Murad, Managing Director at Investcorp for Bahrain, said, “Investcorp continues to cement its position as a leading investor in the technology sector with exciting companies like Impero. The growth potential we saw in the company, together with our deep experience in this sector, made this acquisition a natural step for Investcorp Technology Partners. We look forward to working with the Impero team to achieve the company’s ambitions of further growth and geographical reach."

Founded in the UK in 2002, Impero has become a market leader in integrated safeguarding software with its comprehensive education solution that enables schools to keep students safe, improves the teaching environment and maximises efficiency for school network managers. Headquartered in Nottingham, UK, the Company has over 20 per cent share of the UK secondary school market, currently serving more than 1,400 secondary schools across the country. Globally, the software is accessed by over 1.5 million devices in over 90 countries, including schools in more than 500 US districts. Impero has revenues of approximately $10 million. 

Investcorp Technology Partners plans to support Impero’s international growth both organically and through add-on acquisitions, further expanding its customer base into new geographies as it becomes increasingly important to address parents’ and teachers’ concerns around the online safeguarding of children in the school environment. 

“The mission critical nature of Impero’s product offering, its strong reputation with customers and its attractive growth prospects in the UK and abroad represent a very attractive investment opportunity for Investcorp Technology Partners. Its best-in-class safeguarding software and high levels of recurring revenue have allowed it to secure a leading market position. These fundamental business strengths make it an ideal candidate for Investcorp Technology Partners to partner with,” said Mohammed Al-Shroogi, Co-CEO at Investcorp. 

Sam Pemberton, CEO of Impero added that the company was impressed by Investcorp Technology Partners’ knowledge of our sector, enthusiasm and deep understanding of our business and commitment to growth. “I am delighted to be working alongside their world-class team.” 

Impero marks Investcorp Technology Partners’ third technology investment in the lower middle market in the last nine months for its fourth Technology Fund, a space in which Investcorp Technology Partners has established a market leading position. Investcorp Technology Partners recently announced the acquisition of Ageras, a fast growing online marketplace matching Small and Medium-sized Enterprises (“SMEs”) and micro-businesses with professional services providers such as accountants and lawyers, and prior to that Calligo Limited, a provider of cloud solutions focused on serving the global mid-tier enterprise segment that grew its revenues by approximately 100 per cent year-on-year in 2016. Having raised over $1 billion for dedicated technology investments starting with its first Technology Fund, Investcorp Technology Partners has a particular focus on Data, IT Security, internet/mobility and fintech/payments businesses. Other Investcorp investments in the education sector include GL Education, a leading provider of educational assessments globally, and Nobel learning, a leading provider of private preschool through high school education in the United States. 

Gilbert Kamieniecky and Julian Bennet will join the board of Impero as non-executive directors.

Investcorp Technology Partners was advised by Quayle Munro (M&A), Proskauer (legal), PwC (financial and commercial due diligence) and Crosslake (technical due diligence).

  

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