NVM Private Equity invests in Lineup Systems
5 June 2014
26 January 2012
NVM Private Equity (NVM) has invested £3 million of development capital in Lineup Systems, the multi-channel advertising and media software business. The funding will help support the growth of international product sales and deployment organisation.
Lineup delivers collaborative advertising booking, management, analytics and CRM tools specifically for multi-channel media companies. The software has been created and implemented by a team drawn from a variety of international advertising backgrounds, representative of the print, digital and broadcast channels that are now supported. Lineup’s products, including AdPoint and AdMount, are web-based, which means they can be hosted, cloud-based, or locally installed. Its products are utilised by more than 2,000 users, across 26 countries at 96 of the world’s leading publishers.
London-based Lineup was a spinout from the IT department at Metro International S.A. (MISA) in 2010 and has achieved revenue growth of 267% since becoming independent. Michael Mendoza, CEO of Lineup, has extensive knowledge of the software technologies required by the media industry. “The NVM team really understands how we want to grow the business. Their investment will help Lineup advance the growth of its products into new media advertising markets; delivering to even more customers, whilst maintaining our exceptional customer support.”
James Arrowsmith, director of NVM, introduced Ken Briddon to the Lineup management team six months ago. Ken is currently chairman of and investor in NVM-backed Kerridge Commercial Systems, Lanner Group and KPJ Software Services, and has a long-standing relationship with NVM. He has been working with the Lineup team to build a more robust sales process, so Lineup has already benefitted from his thirty years’ experience in the software and IT industry. Ken is now non-executive chairman of Lineup and will continue to work alongside the management team developing the business.
James Arrowsmith comments: “Lineup is an exciting business with an entrepreneurial management team. They anticipated the new media landscape and continue to develop products to meet the needs of an ever evolving market. NVM is therefore delighted to have been given the opportunity to support management’s growth strategy.”
Ian Piggin, Sophie O’Connor and Graham Spalding of Wragge & Co. were NVM’s legal advisors. Paul Johnson, Karen Buckley and Thorin Ward of Baker Tilly performed financial due-diligence. Commercial due-diligence was undertaken by Dr Roger Penney of RPL. Donald Stewart of Faegre & Benson acted as management’s legal advisor.
NVM Private Equity Limited (NVM) is independently owned with over 27 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing over £200 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. Typically, NVM looks to invest between £2 million and £10 million in each transaction. www.nvm.co.uk