Case study

Kirona: Expanding solutions

Eight year partnership supported the ongoing development of innovative software business.

Sector
  • Technology, Media, Telecoms

Kirona is a leading provider of field force automation solutions.

Deal type
  • Management buyout
Exit type
  • Private equity sale
Exit date

April 2019

Exit value

£20m

Re-investment date

December 2014

Kirona is a leading provider of mobile workforce management software.

The field-force automation software includes mobile applications that enable efficient real-time monitoring between HQs and their field-based operators to generate operational savings.

Investing in a highly capable team

In 2011 we backed the management buyout of Kirona. We then worked with the management team, providing strategic support as the business achieved sustained and significant growth, notably through breaking into vertical sectors and exporting to new international markets.

In 2012 we provided additional equity to support the management team in acquiring scheduling specialist Xmbrace.

LDC’s support has been unstinting.”
David Murray, CEO
Kirona

Achieving great success

Following the original investment, Kirona more than doubled its staff, trebled revenues, materially increased earnings and appointed a high quality Non-Executive Chairman to help continue to drive growth.

In 2014 we partially exited our investment in Kirona, through a £20m secondary buyout and the deal provided a 2.2x return for LDC.

In 2019 we sold our remaining stake in the business as part of a trade sale to Advanced, a provider of cloud-based enterprise resource planning software.

This has been a tremendous period of growth for our business and we see this continuing in the years ahead.”
David Murray, CEO
Kirona