M&A Deal Summary

Tungsten Acquires OB10

On October 16, 2013, Tungsten acquired business services company OB10 from FPE Capital and Azini Capital Partners for 100M GBP

Acquisition Highlights
  • This is Tungsten’s 1st transaction in the Business Services sector.
  • This is Tungsten’s 0th largest (disclosed) transaction.
  • This is Tungsten’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2013-10-16
Target OB10
Sector Business Services
Buyer(s) Tungsten
Sellers(s) FPE Capital
Azini Capital Partners
Deal Type Add-on Acquisition
Deal Value 100M GBP

Target

OB10

London, United Kingdom
OB10 Ltd. is a global B2B e-Invoicing network. OB10 simplifies and streamlines the complex invoice-to-pay processes.

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Buyer(S) 1

Buyer

Tungsten

London, United Kingdom
Category Company
Founded 2000
Sector Internet Software and Services
Employees200
Revenue 37M GBP (2020)
DESCRIPTION

Tungsten is a global B2B e-invoicing network that facilitates and streamlines complex invoice-to-pay processes. Tungsten was founded in 2000 and is based in London, the United Kingdom.

DEAL STATS #
Overall 1 of 2
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 1 of 2
Country (United Kingdom) 1 of 1
Year (2013) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-02 DocuSphere

Perrysburg, Ohio, United States

DocuSphere is focused on the development, enhancement, maintenance, implementation, and support of its own DocuSphere solution for accounts payable automation with Oracle Validated Integration for JD Edwards and Oracle E-Business Suite and SAP certified integration.

Buy -

Seller(S) 2

SELLER

FPE Capital

London, United Kingdom

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

FPE Capital is the private equity investment arm of Fleming Family & Partners, a multi-family office. FF&P invests in lower middle market companies throughout the UK and Western Europe. FF&P focuses on rapidly growing companies led by experienced management, with proven track records and scalable business models. Sectors of interest include financial services, healthcare, business/support services, energy/resources and media/information. The Firm will consider buyouts (MBOs, MBIs) as well as growth capital financings. FPE Capital was formed in 2004 and is based in London.

DEAL STATS #
Overall 11 of 23
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 4 of 9
Country (United Kingdom) 8 of 19
Year (2013) 3 of 3
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-30 Food Industry Technical

Berkshire, United Kingdom

Food Industry Technical Ltd. provides energy saving solutions for operators of commercial kitchens. Combining airflow measurement, data logging through remote access, energy monitoring, and energy control. Food Industry Technical is based in Berkshire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-28 Ticketscript

London, United Kingdom

Ticketscript Ltd. is a self service ticketing provider through online, mobile and social networks. Ticketscript Ltd. was established in 2006 and is headquartered in London, England.

Buy -
SELLER

Azini Capital Partners

Investor Investor

Category Secondary Investor
Founded 2004
Size Small
Type Sector Agnostic
DESCRIPTION

Azini Capital Partners LLP is a private investment group focused acquiring secondary interests in growth-oriented companies. The Firm looks to acquire minority positions (> 15%) in companies with at least $10 million in revenue. The Firm prefers acquiring interests in tech-oriented or tech-enabled companies. Azini Capital was established in 2004 and is based in London.

DEAL STATS #
Overall 10 of 20
Sector (Business Services) 2 of 2
Type (Add-on Acquisition) 8 of 17
Country (United Kingdom) 5 of 10
Year (2013) 3 of 3
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-01 Digital Fuel

San Mateo, California, United States

Digital Fuel is an IT financial management (ITFM) tool that provides transparency and control over the costs of cloud environments and quality of IT services. Its suite of products allow businesses to optimize costs and sourcing across internal virtual infrastructure/private cloud and public cloud. Infrastructure teams use Digital Fuel to understand the costs of supplying private and public cloud environments, while CIOs and IT executives can understand the costs of supplying IT services. Digital Fuel is based in San Mateo, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-07 Mobixell Networks

Edison, New Jersey, United States

Mobixell Networks provides intelligent mobile Internet solutions to mobile operators that optimize data networks and maximize data profitability. Mobixell’s flagship product, Seamless Access, enables mobile operators to intelligently manage, optimize, and monetize the surging mobile data and video traffic while giving subscribers an exceptional user experience.

Sell -
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