Altium’s Manchester team advises on TotalMobile investment

The Manchester team of international investment bank Altium has led a major investment deal between London-based Lyceum Capital and enterprise mobility software developer TotalMobile.

The deal is Altium’s 11th transaction involving technology companies in the last 12 months, as the firm advised on the MBO of Yorkshire energy certification software company Stroma and on investment in Brookson, a software-as-a-service (SaaS) firm.

Elsewhere, Altium also advised on the deal that saw IT software supplier Ascribe sold for £57.5m to EMIS Group plc.

Adrian Reed, a managing director with Altium, said: “Altium is delighted to have been able to work with the TotalMobile team.

“TotalMobile has one of the most exciting software offerings we have seen, with a world-leading product designed for the ever changing landscape of smartphones, tablets and soon to be wearable devices.”

He added: “Its intuitive software revolutionises working practices creating operational efficiencies across multiple verticals from healthcare, government to industry.

“With Lyceum as its new partner, TotalMobile has a huge opportunity in a growing global mobile workforce in excess of 1.3bn people and approaching $500bn of associated annual IT spend.”

Headquartered in Belfast, TotalMobile provides cloud-based SaaS and on-premise products to more than 30k people employed in healthcare, local government and private sector organisations.

The transaction with Lyceum Capital sees the investment firm assume a majority stake while enabling TotalMobile to grow product development.

TotalMobile’s chief executive, Colin Reid, said: “I cannot speak highly enough of Altium. Adrian and the team were so professional, committed and flexible and nothing was too much trouble.

“They took the time to really get to understand our business and then ran an excellent process, providing sound advice throughout.”

Colin continued: “This ensured that we achieved a great outcome for everyone at TotalMobile. I have no hesitation in strongly recommending them.”