Bowmark Capital announces sale of software provider Totalmobile to Five Arrows and DBAG

Totalmobile provides field service management software solutions to approximately 900 organisations, enabling over 500,000 mobile workers to deliver essential frontline services more efficiently across the public services, healthcare, property, facilities management, telecommunications and infrastructure sectors. The company’s technology enables its customers to increase field-based workforce capacity, reduce costs, deliver better customer service, enhance compliance assurance and improve staff engagement.

Since Bowmark’s investment in 2020, Totalmobile has trebled its revenues and profits, driven by organic growth and the completion of four acquisitions. As a result of continued investment, the company has expanded its product offering to encompass the entire field service management value chain, and has developed Field First, the industry’s only fully integrated, multi-capability, AI-enabled technology platform.

During this period, the company has more than doubled the number of its employees to over 400 and has expanded internationally into the Nordics and Australia.

Tom Keen, partner at Bowmark, commented: “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.”

Sacha Oshry, partner at Five Arrows, added: “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.”

Phil Race, CEO of Totalmobile, said: “We have a fantastic team at Totalmobile who are passionate about improving the lives of field workers.  We are grateful for Bowmark’s partnership and expertise which has been instrumental in our success so far, and are now excited to be partnering with Five Arrows and DBAG, whose support and capabilities will enable us to accelerate our international expansion, further develop our product and service proposition, and build a unique global field service business.”

Financial terms were not disclosed.

Bowmark was advised by Arma Partners (M&A); Stephenson Harwood (Legal); BCG (Commercial and Technology); and Deloitte (Financial and Tax).

Five Arrows and DBAG were advised by Houlihan Lokey and Jefferies (M&A); Axis Arbor (Debt); Shoosmiths and Hengeler Mueller (Legal); EY-Parthenon and Alvarez & Marsal (Commercial); Deloitte (Technology); FTI Consulting and EY (Financial and Tax).

Totalmobile was advised by Liberty (M&A) and Mishcon de Reya (Legal).