PRIVATE equity house WestBridge has sold portfolio company Linkfresh to American niche software solutions consolidator Aptean for an undisclosed sum.
WestBridge invested in Linkfresh, which provides enterprise resource planning software to the fresh produce sector, in December 2012 and this marks the fourth exit from WestBridge I.
WestBridge held a final close of its second fund at £140m in May 2019.
Guy Davies, managing partner at WestBridge, said:
“We are delighted to have supported Linkfresh in migrating its software onto the Microsoft Enterprise platform which should now allow the company to consolidate its leading position in the fresh produce software market.
“We are excited for the business and the team who can now take full advantage of the benefits of becoming part of the Aptean group to accelerate growth and more effectively capitalise on the exciting market opportunity.”
The transaction team comprised Guy Davies and James MacLeay from WestBridge; Robin Brown, Alex Wood and Natalia Tkacheva from BDO; Tom Kelleher, Angelina Drljaca-Chandler-Chandler, Elizabeth Cotton and Ellie Shanahan from Capital Law.
WestBridge has offices in London, Manchester and Cardiff. It typically invests between £10-£20m in established, profitable and ambitious UK SMEs with enterprise values of between £15m and £40m.