Software specialist Velociti Solutions has announced a new partnership with CBPE Capital to support its next stage of global growth, whilst maintaining its strong relationship with existing investor Literacy Capital. Operating across the UK, Middle East and Asia-Pacific regions, Velociti aims to deliver mission-critical technology that underpins the safe and efficient running of public transport networks. Its platforms are used for routing, scheduling, compliance management and performance monitoring. The investment by CBPE will help accelerate Velociti’s expansion both at home and abroad, supporting growth in areas such as bus franchising in the UK, where the company already counts West Yorkshire and South Yorkshire Combined Authorities among its clients. Internationally, the business is building on recent contract wins with the likes of CityBus in Hong Kong and Saudi Arabia Rail.
CEO Jeff Hewitt said: “Velociti has grown to become a leading and respected provider of software solutions to transport operators. We have enjoyed an excellent relationship with the team at Literacy, who have been hugely supportive, and look forward to continuing this with them and CBPE. We are looking forward to working together to deliver on the many opportunities ahead of us both in the UK and internationally.”
CEO of BOOK Asset Management, the sale entity of Literacy Capital, Richard Pindar added: “We are really pleased with the progress that Velociti has made since our investment in 2020, which has resulted in an excellent return for shareholders. The leadership team, led by Jeff Hewitt and Carly Wilson, deserve considerable credit for the significant progress Velociti has made since they joined.
“The development of Velociti over the last five and a half years is a good example of what Literacy Capital’s patient approach can achieve and deliver for shareholders. We look forward to remaining on this journey and providing support to the Velociti team, as the business continues to flourish and go from strength to strength.”
CBPE Partner Jason Khaksar commented: “The mission critical nature of Velociti’s software solutions and the demonstrable value that customers receive mean that the business is well placed to continue to benefit from increasing adoption of software solutions in the transport sector. The business has great momentum and is seeing significant traction both in the UK and internationally. We are excited to partner with Jeff, the wider management team and Literacy Capital for the next phase of growth.”
