Verto Boosted by ScaleUp Capital's Stake Acquisition
Deal News | Nov 14, 2024 | Scaleup Capital
ScaleUp Capital, a private equity firm, has acquired a majority stake in Verto, a company specializing in project and programme management software specifically designed for the public sector in the UK. Founded in 2008, Verto provides a platform that allows public sector organizations, such as NHS bodies, central government departments, and local authorities, to manage complex projects effectively. The platform is tailored to handle intricate public sector programs' scale and complexity, with a customer base exceeding 120 clients. The acquisition represents a strategic opportunity for both Verto and ScaleUp Capital, aiming to leverage their synergies to drive growth and innovation. David Sparrow, Investment Director at ScaleUp Capital, expressed eagerness to work with Verto to enhance their impact. Ross Mardell, Managing Director of Verto, remarked positively on the partnership, emphasizing the role of ScaleUp's expertise and resources in advancing Verto's offerings.
Sectors
- Software
- Public Sector
- Private Equity
Geography
- United Kingdom – Both Verto and a substantial portion of its client base are located in the UK, making this geography significant.
Industry
- Software – Verto provides project and programme management software solutions, making it a part of the software industry.
- Public Sector – Verto's software is heavily utilized by public sector clients, indicating its involvement in providing industry-specific solutions.
- Private Equity – ScaleUp Capital's acquisition of Verto positions this news within the private equity sector, involving investment strategy and capital deployment.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ScaleUp Capital | Bidding Company | Company | A private equity firm involved in acquiring a majority stake in Verto. |
| Verto | Target Company | Company | A UK-based software company specializing in project management solutions for the public sector. |
| David Sparrow | Investment Director | Person | Investment Director at ScaleUp Capital, commenting on the acquisition. |
| Ross Mardell | Managing Director | Person | Managing Director of Verto, expressing enthusiasm about the partnership with ScaleUp Capital. |