Avedon Capital Partners has exited its long held software business CycloMedia to Volpi Capital.
The company provides geospatial data and information services and has operations in the US, Dutch, German and Scandinavian markets. CycloMedia has over 140 employees and posted revenues for 2017 of around €30m.
Avedon first backed the business in 2008 and under its ownership CycloMedia has doubled its sales over the last 4 years.
Avedon Capital partner Michel Verhoog said, “We have supported CycloMedia’s transition from an R&D focused Dutch oriented organisation into an international company far ahead of the game in terms of technology leadership.
“The transition has resulted in strong growth, especially in the US, which has been very exciting with an impressive client base to show for it.
“We are proud of what Frank Pauli, the management team and the employees of CycloMedia have achieved.”
Last week Avedon exited its portfolio brands Fit For Free and SportCity in a sale to Bencis.
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