Secondary Buyout • Information Technology

Volpi Capital Acquires Version 1

On April 2, 2017, private equity firm Volpi Capital acquired information technology company Version 1 from Development Capital

Acquisition Context
  • This is Volpi Capital’s 1st transaction in the Information Technology sector.
  • This is Volpi Capital’s 2nd transaction in the United Kingdom.
Investment Fate
  • Version 1 was sold to a consortium of financial buyers in 2022.

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M&A Deal Summary

Date April 2, 2017
Target Version 1
Sector Information Technology
Buyer(s) Volpi Capital
Sellers(s) Development Capital
Deal Type Secondary Buyout
Advisor(s) Clearwater International (Financial)

Target Company

Version 1

London, United Kingdom
Version 1 is an IT consulting and managed services company. Version 1 delivers technology-enabled solutions and services that transform their customers’ businesses. They bring in-depth domain experience, breadth of technology competence, and a relentless focus on service excellence and customer satisfaction to address the business challenges of enterprise customers across all industry sectors. Version 1 was founded in 1996 and is based in London, United Kingdom.
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Buyer Overview 1

DESCRIPTION

Volpi Capital LLP is a private equity firm focused on control investments in tech-enabled B2B service companies that use enabling technologies to address mission critical needs. Volpi seeks opportunities throughout Northwest Europe and will consider opportunities valued from €50 to €200 million. Volpi Capital LLP was formed in 2016 and is headquartered in London.


Deal Context for Buyer #
Overall 2 of 15
Sector: Information Technology 1 of 5
Type: Secondary Buyout 1 of 6
Country: United Kingdom 2 of 5
Year: 2017 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Medinet

West Midlands, United Kingdom

Medinet is a provider of insourcing services, working alongside NHS organizations throughout the UK to guarantee that waiting time targets are achieved. Medinet reduces waiting times by creating additional capacity to see outpatients, provide diagnostic services, and treat day-cases and inpatients requiring surgery. All of Medinet's Consultants hold substantive NHS positions. Medinet was founded in 2004 and is based in West Midlands, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-31 Digital Barriers

Glasgow, United Kingdom

Digital Barriers is a provider of surveillance solutions and technology. DB also provides video analytics software for intrusion detection and military-spec facial recognition software. Digital Barriers was founded in 2009 and is based in Glasgow, United Kingdom.

Buy -

Seller Profile 1

SELLER

Development Capital

Investor Investor Investor


Category Growth Capital Firm
Founded 2013
PE ASSETS 75M EUR
Size Small
Type Sector Agnostic
DESCRIPTION

Development Capital is growth capital firm focused on expansion stage companies throughout Ireland. The Firm looks to commit €2 to €12 million to support a variety of capital needs, including restructurings, buyouts, bolt-on acquisitions, and production expansion opportunities. Development Capital has a special interest in businesses looking to expand into new export markets. Development Capital was formed in 2013 and is headquartered in Dublin.


Deal Context for Seller #
Overall 1 of 1
Sector: Information Technology 1 of 1
Type: Secondary Buyout 1 of 1
Country: United Kingdom 1 of 1
Year: 2017 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 ATA Group

Cavan, Ireland

ATA Group is a global producer of tungsten carbide rotary files, known as burs. Burs are a precision engineered consumable used to fabricate, polish and repair metalwork and are used across a broad range of industries including aerospace, marine, oil & gas, automotive and power generation. ATA Group was formed in 1963 and is based in Cavan, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-18 Multihog

Dundalk, Ireland

Multihog designs and manufactures a range of multi-purpose tractors for airports, municipalities and universities. Multihog is based in Dundalk, Ireland.

Buy -