Buyout firm Bowmark Capital is evaluating a potential sale of workforce management software provider Totalmobile, in a deal that could value the business at over £500m ($649m), according to a report by Bloomberg citing sources familiar with the matter.
Bowmark has engaged Arma Partners to advise on the possible transaction, the sources said. A formal sale process could commence later this year, with potential interest expected from both private equity firms and strategic buyers.
Discussions remain in the early stages, and Bowmark may opt to retain the business for a longer period, the sources added.
Totalmobile specialises in field service management software, serving a diverse client base that includes Vodafone Group and Accenture. The company, which employs over 370 staff across the UK and Ireland, was acquired by Bowmark in October 2020 for an undisclosed sum.
