Horizon Capital, the private equity investor specialising in technology and business services, today announces the successful exit from one of its 15 portfolio companies; Totalmobile, the UK’s leading Field Service Management (FSM) software provider. In calendar year 2019, Totalmobile reported a 70% increase in revenues and is forecasting £26m of revenue in the year to December 2020.
After five years in successful partnership with Horizon Capital, the business has fully transitioned to a Software-as-a-Services (SaaS) model, increased its recurring revenues to over 70% and completing four highly successful, complementary product acquisitions.
The deal was sourced by Horizon Capital’s Jeremy Hand in late 2015 with the exit from Totalmobile following successful software realisations from The Access Group and Clearswift. The pace of change at the group gathered momentum in 2018, when product development, expansion into new vertical sectors and revenue growth accelerated. Building on this success, Totalmobile’s transformative M&A journey started the same year with Derby-based Technology Business Solutions (TBS) – an FSM specialist similar to Totalmobile but with significant reach in the Facilities Management sector and strong IoT capability and CloudDialogs, the Bury St Edmunds-based provider of workforce scheduling solutions to the Building Services Market.
2020 saw the further acquisitions of Rochdale-based Lone Worker Solutions – providing safety and location services for staff operating remotely and Birmingham-based Global Rostering System – delivering software to enable the efficient rostering and assignment of staff.
Totalmobile is now established as the leading independent provider of FSM software in the UK. With over 700 customers and 250,000 mobile-workforce users, Totalmobile’s technology is used to increase field-based workforce capacity, deliver operational cost savings, enhance compliance assurance and improve end-customer service quality across the Public Services (Government, Local Authorities, Health and Emergency Services), Property, Facilities Management, Transport and Infrastructure sectors.
”Jim Darragh, CEO, Totalmobile commented, “Four years ago we set out to become the leaders in our market, known for our incredible products, dedicated people and a clear strategy of growing both organically and via acquisitions. Thanks to the support and guidance of the Horizon Capital team, we now sit as the undisputed, premium provider of Field Service Management software in the UK. I would like to thank Horizon Capital for all the support that they have provided to help us reach this stage. Now we turn our attention towards what promises to be an exciting future as we grow Totalmobile into a world-leading organisation.”
Jim DarraghTotalMobile - CEO
Horizon Capital is delighted to have worked with the Totalmobile team on this transformative journey and congratulates them and the business on securing investment from Bowmark Capital to support continued growth.
”It's been an absolute pleasure working alongside Jim, Mark and the wider Totalmobile team over the past few years. We're delighted to have helped guide the business through a complete transformation into one of the UK's leading software businesses and wish everyone well on the next leg of their journey.”
Jeremy HandHorizon Capital - Chairman
For further information please contact Jeremy Hand on jh@horizonpe.co.uk or +44 7899 064 657.
About TotalMobile
Totalmobile is a leading innovator in field service management and mobile workforce software solutions, that enable organisations to maximise the potential of their mobile workforce, providing them with a real competitive advantage, and customers with a great experience.
By aiding the capturing, management and processing of mobile worker and asset data at every stage of delivery, Totalmobile’s customers generate cost efficiencies, increase the capacity of their workforce, assure compliance with standards, and increase the consistency of their service.
With a comprehensive product suite that includes mobile working, dynamic job scheduling, IoT enabled job creation, job management and business analytics, Totalmobile provides field service management organisations with all they require to drive improvements in process and deliver transformational benefits.
For further information visit www.totalmobile.co.uk or call +44 (0) 280-9033-0111.
