Silverpeak acts as advisor to MSite on its acquisition by the Infobric Group

Silverpeak, the technology investment bank, acted as the exclusive financial advisor to MSite on its acquisition by the Infobric Group.

Silverpeak, the technology investment bank, acted as the exclusive financial advisor to MSite, the Liverpool-based provider of workforce management SaaS and solutions, on its acquisition by the Infobric Group (a portfolio company of Summa Equity). This acquisition unites the domestic market leadership of MSite and Infobric, in the UK and the Nordic region respectively, to create a European digital leader serving the construction sector.

MSite is a leading technology company in workforce management at construction sites. MSite’s platform is actively deployed by Tier 1 contractors such as Balfour Beatty, BAM, Morgan Sindall and Vinci Construction, as well as on the London 2012 Olympic Park. It is estimated that 40% of the UK’s construction workforce is enrolled on MSite’s platform today.

MSite will now become part of the Infobric Group. This acquisition is Infobric’s first outside the Nordic region and an important part of its international growth. MSite’s UK market-leading position lays the foundation for knowledge transfer that will strengthen Infobric’s offering for its entire customer base.

Silverpeak worked with MSite and its shareholders as their exclusive adviser to explore their options. Upon identifying the right time to launch the process, the Silverpeak team worked to a tight timetable to prepare the process, identify and pre-qualify potential buyers, negotiate the transaction and manage the process through to final completion, all within 4 months.

Neil Norman, Founder and CEO of MSite said: “To an entrepreneur, first exposure to the world of corporate finance advisors is daunting and you naturally question the value of their service. Frankly speaking, we could not have done this without the expertise and hard work of the Silverpeak team. At first, they challenged us to get ready for what was to come, then they expertly took the transaction across the line. If we do another deal, it will be with Pietro and the Silverpeak team.”

Pietro Strada, the Managing Partner at Silverpeak leading the process, added: “We are delighted to have advised MSite on this transformative transaction in the construction technology sector. Neil and his team have built a market-leading company centered around Msite’s SaaS platform, which has been validated by many of the most demanding and innovative UK construction companies. We thank MSite’s shareholders for their trust in Silverpeak and are proud to have delivered a great outcome for all.”

For more information please contact Pietro Strada:


UK and Europe exceed pre pandemic highs while US revenue multiples fall

Welcome to the latest edition of the Silverpeak Benchmark report – Application Software Sector, a review of key company valuation metrics in the US, UK and European application software sectors. By reviewing sector median averages, our aim is to provide a set of software industry benchmarks against which individual company performance can be measured.

Report highlights

  • Both revenue and EBITDA valuation multiples fell for nearly all US software categories in Q1 2021, stalling the strong recovery and advance shown in the second half of 2020. In Europe and the UK, valuation metrics continue to increase, the exception being European EBITDA multiples which have fallen 18%.
  • Revenue multiples for US Vertical, Horizontal and SaaS application software companies have all fallen in Q1 but remain at or above pre- pandemic highs. In contrast, median revenue multiples for UK Small & Mid and European software companies have continued to increase and are now both above pre-COVID levels for the first time.
  • EBITDA multiples fell significantly in the middle of Q1 for US companies. US Horizontal recovered by the end of March for a median multiple of 40x, now well above SaaS and Vertical multiples of 29x and 26x.EBITDA margins remained stable across most categories, whereas forecast annual revenue growth increased significantly for all.
  • In the Enterprise Value Index, all sub sectors increased or remained constant from Q4’20.However, towards the end of the quarter four of the five verticals showed a downward move, with FinTech as the only exception.HR Tech continues to outperform other sub sectors, although it showed the largest fall of any vertical from February to March.

Silverpeak Benchmark Report Q1 2021

The State of the Market for Series B & C Rounds in European Tech Companies

Silverpeak has updated its research into Series B & C round in European Tech Companies.

Key takeaways:

  • Series B&C VC investment in European tech companies reaches a new high in 2020 with investment totalling €4.5B, an increase of 37%
  • General trend towards larger rounds, with a tripling to 15% of B rounds above €50m and 40% of C rounds above €50m
  • The UK still dominates as the destination of capital, and grew 42% in 2020 vs 2019
  • The Nordic region shows a strong presence in B rounds with the region recording a 120% increase in capital invested on a 20% increase in deal count compared to 2019
  • The largest B rounds were dominated by companies from the UK, producing 6 out of the top 10 largest rounds in 2020
  • H2 2020 had 4 out of the 10 largest C rounds since 2016

Paddy MccGwire, Managing Partner, commented that “The European capital market for private companies has never been so strong, with a 37% surge of B &C round capital invested in 2020.”

Silverpeak – B&C Rounds Research April 2021