New owners excited about Jaama future

Jaama’s new CEO, Andrew Holgate, has described how the team spirit at the fleet management software provider was a deciding factor in making his acquisition.

Jaama was acquired for an undisclosed sum by a group of investors, led by Holgate, in the summer. 

It was announced that the company’s founder and CEO, Jason Francis, would be leaving the business after a six-month handover, but retained a stake in the company. 

Martin Evans, meanwhile, would remain MD of the business, which was launched in 2004.

As part of the deal, Holgate, who is MD of Lexana Capital, was also announced as the company’s new chief executive.

He said: "After three years of searching for a single company to acquire, I was immediately struck by how much of a family Jaama was.

“There was an unusually strong team spirit that permeated throughout the company and I understood why I was the right buyer for the business."

He added: “Jaama develops critical products that help run leasing companies and large fleets and it was clear that every employee feels both pride and responsibility for ensuring high quality products and services.” 

Tresmares, a private capital fund manager, supported Lexana Capital in acquiring the majority stake in Jaama by providing the acquisition financing to support the deal.  

Holgate explained: "In my search for a long-term strategic partner, I was very particular about who I worked with on the transaction.

“Despite many offers, Tresmares was the obvious partner because I saw they truly understood Jaama, the industry and the dynamics involved.

“Tresmares brought a huge amount of value to all stages of the transaction and helped me close the deal. Above all, I appreciated their transparency and quick decision making.”  

Philippe Arbour, CEO of Tresmares UK, said: “Tresmares is excited to support Jaama in this new phase.

“Jaama has a strong product positioning, customer service and a consistent financial track record.

“We believe the business is well positioned to continue capturing market share in what continues to be a very analogue end market.

“This is the first search fund deal we have backed in the UK since our expansion to London, and we look forward to supporting Jaama and the management team.” 

Jose Ignacio Dengra, investment director at Tremares, added: “Jaama represents what Tresmares is looking for: a well-established player acting in a market benefiting from structural tailwinds.

“Long-term track record is strong, with a high proportion of recurring revenues coming from long-standing clients, which speaks to the importance and quality of the solution provided by Jaama.

“We believe the company still has room to grow as fleet managers face increased regulatory burdens and cost pressures and many of them will benefit from having a software solution in place.” 

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.