Silverpeak, the technology investment bank, acted as the exclusive financial advisor to Ticketer, the UK’s leading provider of bus ticketing technology, on its investment by Tenzing Private Equity
Since entering the market in 2010, Ticketer has grown to become the UK market leader at the forefront of smart electronic ticketing technology across the bus sector. Ticketer’s software enables passengers to use the latest payments technologies, whilst providing bus operators with real-time performance insights to improve efficiency, service levels and profitability.
Widely renowned as the most innovative provider in the industry, Ticketer’s clients include some of the largest national operators, including First Bus, Arriva, and Go-Ahead, and some 70% of the UK’s regional operators. The company has achieved outstanding revenue growth of over 50% year-on-year over the last three years.
Tenzing has backed the senior management team, led by John Clarfelt and Gordon Montgomery. Together with its Entrepreneurs Panel, Tenzing will support the team’s ambition to grow the business in the UK and internationally.
Silverpeak worked with the company as lead advisor to map the marketplace, identify and contact potential investors and negotiate a transaction through to final completion.
Gordon Montgomery, Co-founder and Executive Chairman of Ticketer, said: “Silverpeak were incredibly professional and supportive throughout. They went above and beyond in helping to get the deal over the line.”
David Ford, Director at Silverpeak, said “With the current growth in Smart Transit and Mobility-as-a-Service, Ticketer has many opportunities to help its clients produce better transport experiences. Working with the great team at Tenzing will help them achieve that much faster.”
Pietro Strada, Managing Partner at Silverpeak added, “We are very proud to have worked on this transaction with John, Gordon and the whole Ticketer team.”
This is the fourth transaction for Silverpeak in the mobility sector following the fundraising announced last month for Oxbotica, the autonomous vehicle software company.