Maven backs construction software and procurement services business
The Maven UK Regional Buyout Fund has completed an investment in Pagabo, a procurement services specialist, and Sypro, a contract management and compliance software provider.
Pagabo and Sypro have highly complementary propositions which provide a compelling end-to-end solution for public sector and large enterprise clients when managing complex construction projects. The funding from Maven’s institutional fund will support the Group on its next stage of growth, helping to capitalise on positive market dynamics driven by increased public sector spend on national projects and Government policy to deliver better, faster and greener infrastructure.
Pagabo’s innovative framework agreements enable organisations to procure suppliers for a range of goods and services more efficiently, while Sypro’s Contract Manager software empowers contractors to comply with contract obligations more easily. Together, both businesses offer a streamlined approach to project procurement and compliant project delivery.
This is an exciting opportunity for Maven to back a high-growth business with significant visibility of future revenues in a dynamic marketplace. The senior management team, led by Gerard Toplass, have the entrepreneurial mindset we look for in an investee company and they are extremely ambitious to build on the success they have achieved to date. Our investment will help to scale the Group and maximise the opportunities which will arise from the Government’s objective to deliver better infrastructure as the UK emerges from the pandemic.
Ryan Bevington, Investment Director at Maven
The investment from Maven will really help our businesses thrive and build on our ambitions in the coming years, allowing us to support our own clients with the highest-quality services and products needed for their projects, and to help the Build Back Better, Greener and Faster agenda. We look forward to driving our ambitions and growth further as we seek to deliver the vision of our public sector clients and our wider ecosystem to create a better future for all.
Gerard Toplass, Group Chief Executive of Pagabo and Sypro
The Maven UK Regional Buyout Fund, Maven’s first institutional fund, has now completed six investments including the recent £17 million MBO of data and geospatial technology and services provider Envitia. The Fund was established to facilitate attractive MBOs of companies with an enterprise value of £10 million to £40 million across all UK regions.