Technology portfolio

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Cegid

Cegid is a European leader in enterprise management software and cloud services.

Following the strategic combination of Grupo Primavera with leading software provider Cegid in 2022, the group continued to perform well in 2023. Cegid’s YTD consolidated revenue and EBITDA grew 18% versus prior year. In Q4 2023, Cegid completed a refinancing as a result of continued strong performance and cash generation.

OCI valuation
Cegid

£95.8m

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WebPros

The WebPros Group comprises two of the most widely used webhosting automation software platforms, simplifying the lives of developers and web professionals the world over.

WebPros revenue and EBITDA grew slightly above prior year for the full-year to December 2023, as a result of general market softening which continued from 2022. On a group level, the average revenue per licence (‘ARPL’) was up 13% versus prior year. Despite lower growth, the business continues to achieve strong EBITDA margins of c.61% and remains highly cash generative.

OCI valuation
WebPros

£68.9m

webpros logo

Ocean Technologies Group

The leading provider of maritime e-learning and operational software worldwide.

In 2023, Ocean delivered run-rate revenue and EBITDA growth of 2% and 5% respectively versus prior year. The group continued to increase average customer yield, by upselling the Ocean Learning Platform (OLP) and cross-selling Ocean's broader operational software product suite. Product development also continued at pace, with some key hires (including a chief technology and product officer) and new e-learning and software products in the pipeline to meet the evolving needs of ship managers and crew worldwide. The M&A agenda continues to progress as the management team and Oakley assess potential new additions to the group.

Ocean
Portfolio company logo - Ocean Technologies Group

OCI valuation
Ocean Technologies Group

£53.7m

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Contabo

A leading cloud infrastructure provider offering hosting services to developers and SMEs, with over 300,000 customers from ~180 countries.

Contabo delivered revenue and EBITDA growth of 15% and 11% respectively versus the prior year. The business felt the impact of a slightly higher than expected churn rate, particularly in the virtual private server and dedicated hosting businesses. The management team is implementing various measures to accelerate growth and tackle churn, including strengthening the customer support function, which needs to be levelled up to support the impressive growth of the business over the last few years.

OCI valuation
Contabo

£33.0m

Contabo logo
Seedtag website shown on phone

Seedtag

A global leader in contextual advertising.

Seedtag continued to perform well in 2023, with revenue growth circa 50% versus prior year. Management continues to be focused on expanding the product/offering suite, with particular focus on developing the US market, which was launched in 2022. Seedtag has also successfully accelerated growth in Germany and Benelux on the back of securing key strategic, international blue-chip clients.

OCI valuation
Seedtag

£10.0m

Seedtag logo
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ECOMMERCE ONE

A leading provider of e-commerce software in the DACH region.

Revenue across the ECOMMERCE ONE group grew 30% versus prior year, as a result of first-time consolidation of Marmalade and Makaira revenues, the two businesses acquired by the group in H1 2023, as well as increased SaaS revenues from the Afterbuy business.

OCI valuation
ECOMMERCE ONE

£8.0m

Ecommerce One logo
 
People troubleshooting on computer in server room
Portfolio company logo - Webcentral

OCI valuation
Webcentral

£3.2m

Webcentral

A leading Australian domains, hosting and email provider.

Webcentral has performed well since acquisition in October 2023, delivering revenue and EBITDA growth of 8% and 10% respectively versus prior year. Webcentral offers an extensive portfolio of digital services to over 240,000 small and medium businesses as well as enterprises across Australia and New Zealand. The company is growing profitably with high cash conversion rates as more SMEs seek to digitise their business models.

daisy website shown on laptop screen

Daisy

The UK’s number one independent provider of converged B2B communications, IT and cloud services.

For the nine months to December 2023 (March YE), Daisy delivered revenue and EBITDA growth of 8% and 4% respectively versus the prior year, following good performance from both the Daisy Communications (SMB) and Daisy Corporate Services (DCS) divisions of the group. The SMB division saw strong performance from mobile, boosted by the iPhone launch, and in Hosted Voice and Cloud IT with the transition to IP, although this was partially offset by the expected decline in legacy products such as fixed call usage and bundles.

OCI valuation
Daisy

£2.3m

daisy logo