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A Northern Ireland provider of field service management software which employs more than 400 people has been sold to new backers by mid-market private equity firm Bowmark Capital. Totalmobile has been acquired by Five Arrows, the alternative assets arm of Rothschild & Co, and funds managed by Deutsche Beteiligungs AG (DBAG). The transaction is subject to regulatory approval. The investment will enable the business to accelerate innovation, continue its international expansion, and deliver even greater value to its customers worldwide. The Belfast firm provides software to around 900 organisations, enabling over 500,000 mobile workers to deliver frontline services more efficiently across sectors including public services, healthcare, property, facilities management, telecommunications, and infrastructure. Its technology helps customers increase workforce capacity, reduce costs, improve customer service, enhance compliance, and boost staff engagement. The new investment marks a successful exit for Bowmark Capital, which has supported Totalmobile’s transformation since its initial investment in October 2020. Since Bowmark’s investment, Totalmobile has trebled its revenues and profits through a combination of organic growth and four strategic acquisitions. Revenues reached £58 million in FY24, with continued growth expected through FY25. During this period, the company has more than doubled its workforce to over 400 employees and expanded internationally into the Nordics and Australasia. Totalmobile also launched its Field First platform, designed for global field service teams, and strengthened its position in Fire and Rescue rostering through the acquisition of Gartan Technologies. Phil Race, chief executive officer of Totalmobile, said: “This investment from Five Arrows and DBAG marks the start of an exciting new chapter for Totalmobile. "We have made huge strides but there is still so much to do; this investment is an endorsement of our mission to transform the lives and work of those in Field Services and gives us the impetus to continue transforming how field services are delivered globally. We now have the opportunity to establish ourselves as the true global leader in field service management software, built on two key pillars: first, the commitment, engagement, and belief of our customers and partners and second, the drive and talent of our team, who are the foundation of everything that we do.” Sacha Oshry, partner at Five Arrows, continued: “Totalmobile has built an impressive platform that delivers measurable impact for customers across the public and private sectors. "We see in the business a rare combination of strong technology, deep vertical expertise, and long-standing entrenched customer relationships. We are thrilled to partner with the management team to build on that success and to support the business in driving continued growth and innovation.” Tom Keen, partner at Bowmark, added: “We invested in Totalmobile in 2020 due to its unique position in the field service management sector. Since then, we have supported the management team to enhance the company’s product offering, invest in leading-edge technology and deliver strong growth both organically and through acquisition. "The exceptional quality of Totalmobile’s people, technology and service provision means it is ideally positioned to capitalise on the many opportunities ahead, in partnership with Five Arrows and DBAG.”
