Maven VCTs realise investment in cyber security business Quorum Cyber through sale to UK private equity firm Livingbridge

Exit achieves an overall money multiple return of 6.5x for VCT shareholders

London, 05 January 2022 – Maven Capital Partners (“Maven”), one of the UK’s most active private equity houses, has realised their investment through its managed VCTs in award-winning cyber security business, Quorum Cyber (“Quorum”), through a sale to UK private equity firm Livingbridge. The exit has achieved an overall money multiple return of 6.5x for VCT shareholders inclusive of a retained minority holding in the business.

Headquartered in Edinburgh, one of the world’s leading centres for cyber security talent and innovation, Quorum provides professional and managed security services including a fully managed detect and response capability that enables clients to operate confidently in an increasingly hostile environment.

Since the Maven VCTs first invested in Quorum in 2020, the business has increased both annual recurring revenues and headcount fourfold, entered the US market and made several key hires including the appointment of a Chairman and Finance Director. Critically, the business has strengthened its partnership with Microsoft and been recognised by industry commentators as a leading player in its sector.

High-profile cyber attacks, such as the recent assault on SolarWinds and its clients, election security, as well as ongoing discussions around data privacy, ensure that cybersecurity continues to make the headlines. Given the extensive financial and reputational damage often resulting from a breach, most corporates now view cybersecurity and the need to protect sensitive information as a top priority. However, significant expertise is required to combat the ever-evolving threat, which leads many companies to seek an outsourced managed security solution rather than investing heavily to create an in-house capability. Quorum has capitalised on this trend to establish itself as a leading player with a reputation for offering customer-centric and highly flexible solutions across a range of sectors, using cutting edge software tools, alongside a highly credible and scalable technology platform as part of its partnership with Microsoft.

Dr David Milroy, Partner at Maven, said: 

“We are delighted to see the talented team at Quorum Cyber enter the next phase of their journey after a highly successful partnership with Maven. They have demonstrated an ability to consistently win and service corporate clients across a variety of sectors and geographies, and in doing so have delivered significant recurring revenue growth.

“It has been a pleasure working with Federico and his team and we are proud to have been able to help position the business to capitalise on the significant growth within the global cyber security sector. We look forward to continuing to support the team and Livingbridge as they further scale the business.

“Maven has established a strong track record for backing some of the UK’s most innovative tech businesses, and the realisation of Quorum provides an impressive return for the Maven VCTs and Shareholders. This exit demonstrates the ability of Maven’s UK wide investment team to identify high quality management teams and entrepreneurial businesses and support their growth plans through close and active portfolio management. We wish the Quorum team continued success.”

Federico Charosky, CEO at Quorum Cyber, added: 

“This event represents a significant milestone in the story of Quorum Cyber. Our successful partnership with Maven has enabled us to accelerate growth and scale our business and has demonstrated what we can achieve with the right team and direction.

“Recognised as a leading global provider of Microsoft Sentinel Security Operations Center (SOC) & Managed Detection and Response (MDR) services we can now look to expand our offering across the Microsoft Security ecosystem, including applications such as IoT, Operational Technology (OT), Multi-Cloud and compliance. This will enable us to scale globally and sustainably, while keeping true to our mission: to help good people win.

“Personally, I’m incredibly proud of what we have achieved during our time with Maven. The business is ideally positioned for continued rapid growth, and I look forward to working as closely with our new private-equity partner, Livingbridge.”

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Further information

For media enquiries or any questions about the investment, please contact:

Maven Capital Partners

Steve Marshall                                  07900 053 061   [email protected]

Sapience Communications (PR to Maven)

Richard Morgan Evans                   020 3195 3240   [email protected]

Notes to Editors

About Maven Capital Partners UK LLP       www.mavencp.com

Maven Capital Partners UK LLP (Maven) is an independent private equity house focused on the provision of flexible equity and debt funding for UK SMEs, and one of the most active managers in the UK having invested over £500 million in British businesses since 2009.

Headquartered in Glasgow, and with eleven offices throughout the UK, Maven has over 100 investment and support professionals providing a truly nationwide coverage. Maven has £660 million funds under management and ready to invest, and manages assets for a variety of client funds, including Venture Capital Trusts, UK regional fund mandates, and Maven Investor Partners, a syndicate of institutional, family office and experienced investors.