Velociti Solutions, a specialist software provider within public transport, is delighted to announce that it has secured a new investment partner in CBPE, whilst continuing our long standing and successful relationship with Literacy Capital.
Velociti provides mission critical software to the bus and rail sectors in the UK, Middle East and APAC providing routing, scheduling and management of the bus and rail networks whilst ensuring safety critical compliance is adhered to by its customers around the world.
The company is delighted to welcome significant investment from CBPE to develop the company further, as well as retain continued input from Literacy Capital, illustrating the attractiveness of Velociti in its continued journey to become the leading software supplier of choice to the bus and rail industry.
Both CBPE and Literacy Capital will support Velociti in supporting customers in the UK, in areas such as franchising in the bus sector where customers include West Yorkshire Combined Authority and South Yorkshire Combined Authority, through the delivery of contract performance software. There is also a shared plan to build on recent contract awards internationally, such as those with CityBus Hong Kong and Saudi Arabia Rail.
The investment will also allow the continued expansion of Velociti’s offering through further acquisitions to broaden the product set and reach worldwide to deliver operational technology to these key sectors.
Jeff Hewitt CEO at Velociti Solutions commented:
“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.”
Richard Pindar CEO at BOOK Asset Management, the sale entity of Literacy Capital, commented: “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.”
Jason Khaksar Partner at CBPE 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.”
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More information:
- Visit the CBPE website
- Visit the Literacy Capital website
