Calash is pleased to announce that it provided commercial due diligence to private equity investor Vespa Capital on its investment into Eserv, a leading software-as-a-service (SaaS) business that provides its 3D digital twin technology to owners/operators of complex assets.
Founded in 2015 by Dan Millard, Aberdeen-headquartered Eserv has grown into a leading provider of digital twin services to the energy sector in the UK, Europe and beyond. Vespa will support Dan and the team in the next phase of growth for the technology company. The investment will enable Eserv to drive international growth, augment the team, and to further expand the capabilities of its AS-TEG platform.
Calash provided commercial due diligence on the deal on behalf of Vespa Capital. Commercial due diligence included a review of the target’s business activities and pipeline, service demand from existing and adjacent markets, a review of alternative markets and technology applications, and a competitive benchmarking exercise.
The Calash team included Iain Gallow, Rob Neves and James Kirby.
“The digital twin space is complex and fast maturing, with application to many different markets – Calash’s hands-on experience of the energy sector was critical in accurately assessing the commercial credentials of the business, and to help identify further areas of growth. We were very pleased with their advisory services and support throughout the process”
Luke Burton, Investment Director, Vespa Capital
Read the full press release Here
Eserv is a leading software-as-a-service (SaaS) solution that revolutionises how clients design, build, operate and maintain complex industrial assets through its digital twin technology AS-TEG. The solution allows owners/operators and service providers to search and locate as-built, design and integrity data from the desktop – globally. The company was founded in 2015 by Dan Millard, a passionate leader with hands on experience working across energy projects across the industry.
Vespa Capital is a leading lower mid-market focused private equity investor. The company is proactive in recapitalisations and management buyouts of privately-owned businesses with an Enterprise Value between £10m – £75m. Across its 15-strong team, it has completed over 50 investments.