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Liverpool’s fund:tmt reports 40pc IRR on Tiger TMS acquisition

River Capital's Jerry Mobbs

SPARK Impact and fund:tmt have reported a “significant return” and 40 per cent IRR from the sale Tiger TMS.

Tiger TMS, a leading developer of applications and middleware solutions for the hospitality market, has been acquired by Canadian-based software investment company Valsoft Corporation.

Tiger TMS was previously acquired from Mitel Networks Corporation by CEO John Owen in February 2020. The Management Buy Out was supported with significant equity investment from fund:tmt, which is managed by SPARK Impact, itself now operationally merged with River Capital, a leading fund manager based in the North West.

Liverpool-based fund:tmt typically invests between £0.5m and £2m in technology, media and telecoms sector businesses

Following the MBO, Tiger TMS continued to establish itself within the communications and guest management systems industry, providing products including iPortal, an award-winning Mobile Guest Services solution, to some of the most prestigious and recognisable international hotel groups including Hyatt, Marriott, Crowne Plaza and Holiday Inn.

Tiger TMS now partners with over 160 distributors across six continents and services over 10,000 individual hotels, leading to significant increases in revenue and profitably.

River Capital Portfolio Director Jerry Mobbs, who managed the exit process, said: “We are delighted to have completed the acquisition of Tiger TMS by Valsoft, securing a significant return and 40 per cent IRR for fund: tmt and its investors. Since the Management Buyout, the team led by John Owen has demonstrated great determination and skill in navigating difficult trading conditions and at the same time delivering impressive growth.

The acquisition marks an exciting new chapter for Tiger TMS in delivering innovative solutions to its customers and we wish them well in this next exciting stage of their journey.”

Owen added: “We’d like to thank SPARK Impact for the faith and confidence that enabled the MBO in February 2020. Under their stewardship, the business has flourished in the subsequent three years, and we are now looking forward to continued growth as part of the Valsoft group of companies.”

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