Kartesia provides £53m financing solution to Invenio; supports acquisition of LSI

Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, is pleased to announce a debt financing package for the continued international growth and development of Invenio (“the Company”), a UK-headquarted global provider of large-scale IT consulting services and technology solutions backed by BGF. BGF is one of the most active investors in the UK market, providing growth capital for a broad range of small and medium-sized enterprises.

Founded in 2006, Invenio is an award-winning consultancy, headquartered in Reading, UK, which solves complex business challenges with innovative digital solutions, based on SAP technology. The company has specialist expertise and deep experience in the public sector and select industries across the private sector, including media and entertainment, manufacturing, chemicals, and pharmaceutical industries. Invenio provides end-to-end solution and service offerings which include integration, mobility & portals, and AI and advanced analytics.

Since the £11.6m investment by BGF in March 2019, Invenio has expanded into several new geographies and is now looking to expand its offering in the US through the acquisition of Labyrinth Solutions Inc (“LSI”), which will combine two leading SAP-focused businesses and increase the company’s importance as a partner to SAP globally.

Kartesia has provided £53m total funding  to facilitate a refinancing of existing debt at Invenio, support BGF in its purchase of LSI and any additional transaction costs. The transaction is the sixth from Kartesia’s Senior Opportunities (KSO) I fund since Nick Holman joined the firm in February 2020.

The deal team at Kartesia comprised of Jaime Prieto, Nick Holman, Javier Castillo and Karan Patole.

Nick Holman, Director and Head of KSO UK at Kartesia, added: “We are excited to close a further UK transaction in the technology sector, and recognise Invenio’s specialist expertise and strength of offering which has enabled it to capture a market-leading position.  The acquisition of US-based LSI furthers Invenio’s international growth potential by expanding on its position as a trusted partner of SAP in Europe. We look forward to working closely with the Invenio and LSI teams and BGF to realise the business’ significant potential.”