autos

BGF-backed transport tech firm makes acquisition | Yorkshire Deals News – Insider Media


BGF-backed transport tech firm makes acquisition

Brendan Fatchett


A transport technology company has acquired a counterpart supported by additional funding from growth capital investor BGF.

365 Response, a Wakefield-based digital transport management and eProcurement software provider, has acquired Redcar-based transport technology business Flexiroute after securing follow-on funding from the founders and BGF.

The deal comes one year on from BGF’s initial £3m investment in the Yorkshire business.

The new partnership brings together two providers of home-to-school and NHS transport software in the UK, which work with some of the largest councils and trusts in the country.

Brendan Fatchett, chief executive at 365 Response, said: “Acquiring Flexiroute is a huge step forward in the implementation of our long-term strategy to support the delivery of zero-carbon solutions for councils.

“This partnership supports our aim to be the single best provider of transport management solutions for the public and private sector. We are passionate about developing new solutions to better service the market and we are excited to be moving forward as a larger group, with the whole Flexiroute team joining the 365 Response fold.

“We are completely committed to the Flexiroute team and their customers and are looking forward to working closely with them to drive true innovation and transformation in the sector.”

Lawrence Cocker, technical director at Flexiroute, added: “We are thrilled to be joining the 365 Response Group of companies and look forward to bringing together our technologies to create further advancements for our clients. We’re proud to be joining a motivated and caring team, who are dedicated to solving complex transport requirements, improving the lives of the most vulnerable people in our society.”

365 Response has grown rapidly since taking investment from BGF, with funding used to support a rapid recruitment drive and further development of the 365 Response Smart Transport platform.

The latest deal follows the July acquisition of meals-on-wheels software solutions business KL2.

Rob Johnson, an investor at BGF, said: “As demand increases for 365 Response’s solutions, these acquisitions will allow the business to accelerate its already rapid expansion and support more organisations’ transport requirements.

“When we invested last year, we identified the opportunity to accelerate organic growth through complementary acquisitions and so it’s great to have been able to put more money to work to support the execution of two fantastic deals within 12 months of our initial investment.”

365 Response was advised by Addleshaw Goddard, led by Richard Hunt, Cameron Allwood and Shannon Hardcastle. BGF was advised by Squire Patton Boggs, led by Paul Mann and Josh Lodge.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.