BGF announces successful exit of Datum360, generating a 5.9x MM return

The Teesside business has been acquired by global software leader Autodesk, Inc.

24 June 2024

BGF has announced the successful exit of Datum360, a Connected Data platform that allows large asset owners to seamlessly access engineering information and asset data.

The Teesside-based business has been acquired by Autodesk, Inc. (NASDAQ: ADSK). Headquartered in San Francisco, Autodesk is a global leader in design and make software for the architecture, engineering, construction, operations, manufacturing, and media and entertainment industries.

Datum360 was founded in 2009 and now has a global footprint. The business has an impressive customer base across a range of sectors, such as power generation, utilities, food production, and infrastructure. By connecting customers with their data, Datum360 helps to enhance their decision-making and enhance efficiencies across their organisations.

BGF started backing Datum360 in November 2020 and, since then, the business has multiplied revenue. The investment has delivered a 5.9x money multiple (MM) return and an IRR of more than 60% for BGF.

“On meeting BGF, it was clear that they had a differentiated offering and were well versed in helping SaaS businesses scale. They’ve been the ideal partner to help us expand our market share, continue to innovate, and grow the business over our partnership. We’re looking forward to the next chapter and an exciting future with Autodesk, which will create significant opportunities for our team and clients.”
Steve Wilson
CEO of Datum360

Chris Boyes, who led the investment for BGF, commented: “It’s been a pleasure to work alongside an excellent team, led by Steve Wilson, David Mitchell and James Michael, and supported by non-exec chair Ross Smith. The sale of Datum360 to Autodesk is a fitting culmination of the progress made during our partnership.”

“Datum360 is another illustration of the value created by BGF’s investment model, with our patient, minority-only capital, allowing us to form long-term partnerships with forward-thinking companies. Our approach enables us to confidently invest through the cycle, until we reach the right exit opportunity for everyone involved. We are delighted to have worked with them, and wish Steve, David, James and the wider Datum360 team the best for the future.”

Advising BGF and Datum360 shareholders on the exit process were Cavu Corporate Finance (Thomas Brunsnes and Shawn Bone) and Weightmans (Duncan Reid, Kirsty Adamson and Rosie Roof).

Thomas Brunsnes, Director of Cavu Corporate Finance, said: “It has been a pleasure working with BGF and the Datum360 team on delivering this transformative transaction for the business. Steve, David and James have, alongside BGF, been able to expand its international footprint into the USA and Asia-Pacific markets, delivering critical software to some of the world’s largest companies. We have worked with Datum360 and BGF for a prolonged period to secure a successful exit for the Shareholders, and are delighted to have advised on this highly strategic transaction with Autodesk.”

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