YFM Equity Partners-advised funds have sold their shares in GroupBC to strategic acquirer Bentley Systems, a provider of comprehensive software and digital twins services for advancing infrastructure.
GroupBC was backed by British Smaller Companies VCT plc and British Smaller Companies VCT2 plc, both are advised by YFM.
The exit has delivered a money multiple return in excess of 3x for the investors, according to YFM, which has been investing in UK SMEs since 1982. The Mayfair-based firm’s portfolio includes companies like Springboard, Tonkotsu and Sharpcloud.
“GroupBC has scaled strongly since the YFM-backed MBO in 2014, breaking new ground with project and asset information solutions for the built environment,” said Wes Simmons, CEO of GroupBC.
GroupBC is a provider of enterprise-scale information management systems for construction- related projects and asset owners. Its UK-hosted Common Date Environment enables teams to collaborate, manage and share documents and data from a cloud-based platform.
James Savage, partner at YFM, commented on the sale: “We backed an ambitious management team in 2014 that has delivered on its plan to position GroupBC as a market-leader and innovator in asset information management systems.”
“It has grown revenues and profits significantly and its customers now include some of the largest infrastructure projects in the UK,” he added.
YFM and the management team were advised by KPMG Corporate Finance.