Puma Private Equity exits global digital wellbeing platform Tictrac in £35m deal
Puma Private Equity has completed an attractive exit of its stake in global digital wellbeing platform Tictrac, returning a 2x money multiple and 38% internal rate of return on its investment after just two years. The overall transaction is valued at up to £35m.
The exit has been realised following a bid by Dialogue Health Technologies Inc, Canada’s premier virtual healthcare and wellness platform, and is the largest acquisition in their history.
Tictrac’s software and services provide information for businesses to take better care of their employees’ health and wellbeing, and the business has amassed an impressive global client list, delivering a gross margin of approximately 90%.
In 2020, Puma led an investment round into Tictrac, investing £5m to support the business’ growth, capitalise on the technology investments made, and build out its distribution and content provision.
Rupert West, Managing Director at Puma Private Equity commented:
“It’s been an exciting journey supporting Tictrac over the past two years. This type of business plays an increasingly important role in society, especially as companies focus more on how they support the health and wellbeing of their employees, something which has become even more relevant through the pandemic. We have been consistently impressed with Tictrac’s ability to heighten health and wellbeing engagement, which in turn will help alleviate some of the pressures our health services continue to face.
“We’re pleased that Puma Private Equity has played a part in their growth, and that we have been able to realise a fantastic return for our investors within a relatively short space of time. We’re committed to helping businesses achieve their full potential – working in partnership with management to unlock growth – and Tictrac is a fantastic example of this. This deal provides a bigger home for the Tictrac solution, management and customers, and this should be the start of an exciting new journey with Dialogue. We wish them the very best of success.”
About Puma Private Equity
Puma Private Equity is a leading provider of growth capital to small and medium-sized businesses across all sectors and regions of the UK. We deliver investments between £2-10 million and partner with management teams to accelerate growth and help businesses achieve their potential.