- Synova is investing alongside Unity5’s co-founders, who will retain a stake
- The investment will provide Unity5 with capital for targeted M&A
- Unity5 provides real-time enforcement and permitting software for private parking companies and local authorities
Synova has announced it has made an investment in Unity5, a UK-based provider of software as a service (SaaS) solutions. Synova has invested alongside Unity5’s co-founders, who will retain a stake in the company.
Unity5 is based in Exeter, England and provides real-time enforcement and permitting software for private parking companies and local authorities to manage parking, traffic and environmental regulations. The company has delivered a compound annual growth rate of 42% over the last three years.
“The business has performed strongly over the last few years driven by the growth and increasing complexity of its underlying markets, together with the strength of its SaaS proposition, which delivers exceptional quality and service to its expanding client base,” said Alex Bowden, partner at Synova.
Synova is a private equity firm headquartered in London with an office in New York. The firm has been investing since 2007 and typically invests between £15 million ($17 million; €17 million) and £150 million in companies valued between £20 million and £250 million. It invests in companies in the UK, Ireland and continental Europe and manages in excess of £1.7 billion of capital.