London, 2 August 2017, Foresight Group (“Foresight”) is pleased to announce the successful sale of MPLSYSTEMS Limited (“MPL” or the “Company”) to Industrial and Financial Systems, IFS AB (“IFS”), realising the investment held by Foresight 4 VCT PLC at a compelling valuation multiple.
MPL is a leading provider of customer and field service technology in Europe, offering a wide range of innovative customer contact technologies, customer engagement CRM and field service management software, all provided on an omni-channel basis. When combined with IFS’s leading service management offering, the Company will be able to deliver a full end-to-end customer engagement solution to customers worldwide.
Foresight has been a supportive shareholder over a number of years. Since Foresight’s first investment, revenue from the technology part of the Company has grown by c.800% with two thirds of revenue now comprised of recurring, software as a service revenue.
Lizzie Ryan, Investment Manager at Foresight Group:
“MPL has defined itself as a leading provider of omni-channel contact centre and customer engagement software. We are delighted to have been a long-term investor in MPL, enabling the Company to grow. We believe that IFS’s complimentary offering will support the company’s further growth, with a number of synergistic and cross-selling opportunities.”
Paul White, CEO at MPLSYSTEMS LIMITED:
“Foresight have been incredibly supportive, as we have built MPL into the award winning and well recognized business that it is today. We are now looking forward to the next chapter as we take our solutions onto the world stage with IFS.”
For more information contact:
Annabel Arrowsmith, Foresight Group, email@example.com, +44 (0)20 3667 8179
NOTES FOR EDITORS
About Foresight Group LLP (“Foresight”):
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years,
Foresight has £2.7 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).
Foresight’s Private Equity team, comprising of eighteen investment professionals, invests typically between £1m and £5m in management buy-outs, management buy-ins and growth capital investments in UK SMEs.
Foresight was voted “VCT House of the Year” at the 2016 Unquote British Private Equity awards.
About MPLSYSTEMS LIMITED (“MPL”)
MPLSYSTEMS design and deliver innovative contact centre and field service technology with the objective of connecting customers, agents and mobile workers, making complex tasks simple.