Jaama names new CEO as business sold to group of investors

Jaama has been acquired by a group of investors led by Andrew Holgate for an undisclosed sum.

The company’s founder and CEO, Jason Francis, will leave the business after a six-month handover, but retains a stake in the company. 

Holgate, who is MD of Lexana Capital, will become the company’s new chief executive, following a three-year search for the right company to invest in.

He says he was excited by the reputation, experience and knowledge within the company along with its extensive and long serving customer base.

“Jaama is a great business underpinned by a phenomenal team who provide industry leading software backed up by excellent customer service,” he said.

“When I started talking to Jason and his team, I knew it was the right fit and I am delighted to announce that we have completed the deal.

“We have a long-term strategy and I look forward to working closely with customers, further developing our products and growing the Jaama business.”

Holgate is joined by Paul Waterhouse, who becomes chief financial officer, while Martin Evans remains MD of the business, which was launched in 2004.

Evans said: “The focus is very much on ‘business as usual’ but with the benefit of gaining a wealth of experience on growing businesses that will really help drive Jaama’s continued growth plan in the fleet software sector over the coming years.”

Evans and his current executive team of Michelle Morgan, Stuart Mills and James Thresher will continue to run Jaama, which now employs around 120 people, under Holgate’s stewardship.

“This is an exciting time for Jaama, its colleagues and customers,” continued Evans. “Andrew and his investment team have a passion for growing medium sized businesses that will help us take Jaama to the next level.

“I’m really pleased that Andrew and his investment group have acquired the business rather than being taken over by a competitor or a private equity investor.

“We will continue with our customer focussed ethos supported by ongoing investment in our class-leading Key2 platform,” he added.

Lexana Capital looks for investment opportunities in businesses with up to £25 million in revenue, strong growth, predictable revenues​, high customer retention rate and strong margins, according to its website.