Automotive software and IT solutions provider QUBE Automotive has been sold to Total Specific Solutions (TSS) in a deal designed to accelerate the company’s growth strategy. The deal was advised on by KBS Corporate.
Founded in 2010, Maidstone-based QUBE provides international vehicle manufacturers in the UK and mainland Europe with software solutions for their aftersales, trade and purchase requirements, as well as bespoke development and consultancy services. As it looks to embark on the next stage of its growth-journey, the firm has completed a deal with Total Specific Solutions (TSS), which it identifies as “the ideal fit to take the business to the next level.”
Seamus O’Donnell, managing director of QUBE, said, “I’m very proud of what we have achieved as a software company of our size – it’s impressive. To move forward with our growth strategy, we needed backing from a large company. We found that in TSS. Not only is TSS a perpetual owner, meaning it buys once and holds forever, but it also believes in the value of growing companies that are close to their clients and can quickly anticipate market changes.”
According to a release from the firm, this was particularly appealing to QUBE, as over the years the firm has built a reputation in its niche automotive vertical. QUBE’s specialists, operating across all areas of the automotive market, have a deep understanding of the challenges faced by manufacturers and dealers in a highly competitive industry. This enables the provision of high-quality, reliable and effective business intelligence data, and web-based marketing and reporting systems. After the deal, however, the firm will extend its expertise much further.
Matt Seymour, technical director at QUBE, added, “Through the acquisition, we are now part of an international group with around 10,000 colleagues who share knowledge and best practices. This will give us new insights into this changing landscape, which we can apply to our domain and continue to offer our clients innovative, high-value software and services. We look forward to learning and applying TSS’s best practices, and being part of a large software group that allows QUBE to set the benchmark for quality and efficiency in our market.”
Dutch-based vertical market software firm TSS has increased its automotive portfolio in Europe to six with the move, as well as welcoming its 12th company in the UK and Ireland. The international provider of IT business solutions consists of independent business units that deliver products and services to their specific vertical market segments, is part of Topicus.com Inc., a public company listed on the Canadian TSX Venture Exchange.
The transaction was advised by Joe Norris, an associate corporate director at KBS Corporate. K3 Law, a fellow K3 Capital Group company, also provided important legal work for helping to bring the transaction to a successful conclusion.
