Maven Capital Partners (“Maven”), one of the UK’s most active private equity firms, has successfully exited its investment in Oak Engage Limited (“Oak”), a developer and provider of an employee engagement and intranet SaaS platform. The sale to UK private equity firm NorthEdge has generated a strong return for investors.
Newcastle based Oak Engage has experienced strong revenue growth since two Maven client funds first backed the business early in its evolution in June 2018. Investment through Maven Investor Partners and Maven’s regional funds, enabled Oak Engage to further develop its innovative platform, helping it to better support enterprise customers, as well as to make critical hires across the senior team with extensive experience in scaling software businesses.
Oak’s award-winning platform is now utilised by a blue chip client base including NatWest Group, Burger King UK, Aldi, Five Guys and Halfords, to create a centralised digital workspace that improves employee engagement, communication and collaboration.
The sale to NorthEdge will support Oak’s impressive growth to date and leverage its well-invested platform to capitalise on the increasing demand for employee engagement tools among medium to enterprise-sized businesses.
Michael Vassallo, Investment Partner at Maven, said: “Our partnership with Oak Engage has been both highly productive and rewarding for all involved, which is testimony to the skill and strategic insight of CEO Will Murray and his talented management team. Over the course of the investment period, we have supported the business in executing its go-to-market strategy for its cloud-based SaaS product, built an impressive customer base of major global brands, and accelerated revenue growth. From being a business with high potential, we are delighted to see Oak Engage now established as a global player offering a comprehensive, feature-rich solution to businesses looking to foster a stronger company culture.”
Will Murray, CEO at Oak Engage, added: “Working with Maven has provided valuable strategic direction and support, helping us to scale our operations, enhance our technology, and extend our international reach. We are proud of the progress we have made together and look forward to building on this momentum with NorthEdge as we continue our mission to redefine employee engagement for businesses worldwide.”
Oak Engage was advised by ICON Corporate Finance (Corporate Finance) and Weightmans (Legals).
Read the orginal article: https://ffnews.com/newsarticle/funding/maven-exits-employee-engagement-platform-after-transformative-growth/
