Glasgow-based private equity firm, Maven Capital Partners has sold its stake to UK private equity firm Livingbridge. Their exit has provided them with a gain of 6.5x returns for Maven’s venture capital trust shareholders, which includes a retained minority holding in the business.
Since the Maven’s VCT’s shareholders first invested in in Quorum in 2020, it has seen annual recurring revenues and has made new senior hires, for the finance director, and the appointment of chairman.
“This event represents a significant milestone in the story of Quorum Cyber,” said Federico Charosky, chief executive at Quorum Cyber. “Personally, I’m incredibly proud of what we have achieved during our time with Maven – the business is ideally positioned for continued rapid growth, and I look forward to working as closely with our new private-equity partner, Livingbridge,” he added.
“We are delighted to see the talented team at Quorum Cyber enter the next phase of their journey – they have demonstrated an ability to consistently win and service corporate clients across a variety of sectors and geographies, and in doing so have delivered significant recurring revenue growth,” added David Milroy, partner at Maven.
“This exit demonstrates the ability of Maven’s UK wide investment team to identify high quality management teams and entrepreneurial businesses and support their growth plans through close and active portfolio management,” he added.
Maven now has £660m in management and manages the assets for a variety of clients, such as UK regional fund mandates, VCT’s, and Maven Investor Partners, which is a syndicate of experienced investors, as well as a family office.
