Two Hull companies have attracted significant investment from a large private equity firm as they focus on the efficiency of the construction industry.
Pagabo, a procurement services specialist, and Sypro, a contract management and compliance software provider – under the same ownership – were supported by Maven Capital Partners.
The undisclosed deal will see a formal group of companies created for what Maven describes as “highly complementary proposals that provide a compelling end-to-end solution for the public sector and large corporate clients when managing construction projects. complex “.
The common goal is to capitalize on the building-induced recovery by increasing spending on national infrastructure projects as the government seeks to provide improved and greener infrastructure.
Ryan Bevington, Chief Investment Officer at Maven, said: “This is an exciting opportunity for Maven to support a high growth company with significant visibility of future revenue in a dynamic market. The management team, led by Gerard Toplass, has the entrepreneurial spirit that we seek in an issuing company and they are extremely ambitious to build on the success they have achieved to date. Our investment will help evolve the group and maximize the opportunities that will flow from the government’s goal of providing better infrastructure as the UK emerges from the pandemic. “
Pagabo’s framework agreements allow organizations to efficiently source suppliers for a range of goods and services, while Sypro’s Contract Manager software makes it easier for subcontractors to comply with obligations.
Gerard Toplass, founding investor and managing director of the Old Town-based Pagabo and Sypro group, said: “Maven’s investment will truly help our businesses thrive and develop our ambitions in the years to come, enabling us to support our own clients. with the highest quality products and services needed for their projects, and to help the Build Back Better, Greener, Faster program. We look forward to continuing our ambitions and growth as we seek to realize the vision of our public sector clients and our wider ecosystem to create a better future for all. “
Mr. Toplas, who started his career as an accountant, has worked in education, manufacturing and technology. The old boy from Hymers led the Business Bounce Back charge last summer to ensure the resumption of the pandemic focused on the good of society.
Pagabo was established in 2013 and has nearly 300 clients, with projects worth £ 2.2bn completed and £ 534m in additional procurement.
Sypro was launched five years earlier and has completed global projects worth a combined £ 30bn.
Maven specializes in flexible equity and debt financing for high growth companies, with £ 660million of funds under management.