- Nov 2020
Apse Capital acquires leading data and technology company TerraQuest Solutions
TerraQuest Solutions Group (“TerraQuest” or “the Company”) is delighted to announce that its parent company, Mears Group PLC, has signed a binding agreement to sell the Company to Apse Capital, a European private equity group specialising in investing in tech-enabled B2B businesses in high-growth sectors.
Apse Capital seeks to partner with high quality management teams to grow businesses, either organically or through acquisition, and this deal will secure the next stage of TerraQuest’s development, growth and expansion. The transaction is subject to the approval of Mears Group shareholders and Ministry of Housing, Communities and Local Government consent, and is expected to complete in the first week of December.
TerraQuest is a leading digital, data and technology provider to the planning, infrastructure and property sectors across the UK. The TerraQuest group also includes PortalPlanQuest Ltd which operates the national Planning Portal, facilitating the submission of all online planning applications to councils in England and Wales.
Geoff Keal, Managing Director of TerraQuest Solutions said:
“It’s fantastic that our management team is now backed by a group of highly successful investment experts. Their support and guidance will help us accelerate the growth and reach of the business, developing new solutions to maximise the benefits of a truly digital and fully connected land and property environment.”
Tim Green, Managing Partner of Apse Capital, said:
“We are impressed by TerraQuest’s outstanding growth to date and its talented management team, who have successfully positioned the business at the heart of the UK planning sector. We look forward to working together to embark on the next step of the company’s growth journey and help it further digitise the land referencing and planning process.”
Notes to editors
Apse Capital is a London-based private equity firm that specialises in backing tech-enabled B2B information and services businesses in high-growth sectors across Europe. Apse Capital was co-founded by Tim Green, Ashley Long and Vikram Krishna, who have worked together for over fifteen years, have 80 years of combined private equity experience and over the last five years have completed a total of 24 transactions in tech-enabled businesses, with an aggregate Enterprise Value of €1.5 billion. Apse Capital typically backs fast-growing European SMEs with an enterprise value of €50-200 million. For more information, please visit www.apsecapital.com
Birmingham-based TerraQuest Solutions Group is a leading data services and technology solutions company, specialising in the infrastructure, property and planning sectors across the UK. It also has offices in Belfast and Bristol. Data services include land referencing for major infrastructure projects, data curation for government authorities, and provision of outsourced planning services. Technology solutions include portals for spatial data and mapping, digital workspaces, pre-employment checks and bespoke tools for clients such as Crossrail.
TerraQuest’s subsidiary, PortalPlanQuest Ltd is a joint venture held with the Ministry of Housing, Communities and Local Government (MHCLG). The business operates the national Planning Portal, through which around 90% of planning applications are submitted to all English and Welsh councils.
The full Press Release can be viewed below: