Tenzing, the UK-based independent private equity firm, has invested in Ticketer, the UK’s leading provider of bus ticketing technology. Tenzing specialises in investments in high growth SMEs across the UK and Ireland, supporting high performance management teams with which it has a shared vision.
“We have big ambitions for our business, and we were looking for a partner to help us accelerate our growth. But it was key to us that any such partner should share our vision and ethos, which is the cornerstone of our success. It was immediately clear to us that Tenzing were a kindred spirit, and we are really excited about the journey ahead with them,” said John Clarfelt, Ticketer CEO.
Ticketer has managed to grow and become the UK market leader since its inception in 2010, being at the forefront of smart electronic ticketing technology across the bus sector. Ticketer’s software enables passengers to use the latest payment technologies, whilst providing its operators with real-time performance insights to improve efficiency, service levels and profitability.
“We are delighted to be partnering with John, Gordon and their team on the next leg of Ticketer’s journey. This business is at the sharp end of the latest technology developments in transport and is a true niche market leader. John and Gordon have exciting plans for the company and we can’t wait to help them to achieve them,” said Guy Gillon, managing partner at Tenzing.
Ticketer has achieved revenue growth of over 50% year-on-year over the last three years, and the backing from Tenzing will enable the company to accelerate its new product development plan and ensure that it stays ahead of rapidly changing customer trends and demands. Tenzing has bought into the management team’s business plan and vision for the future and is committed to supporting the team in achieving those goals.