Gresham House Ventures has sold its majority stake in print management information software firm Tharstern to eProductivity Software (ePS).
The terms of the deal were not disclosed.
Tharstern provides management information software for the printing, packaging and label industries, helping businesses to digitise processes and accelerate workflows. The firm boasts hundreds of customers across the UK, Ireland, North America, Australia and South Africa.
The Gresham House Ventures team invested in Tharstern in July 2014 through the Mobeus VCTs.
The investment has supported Tharstern in accelerating the development of a new cloud-based SaaS product. Gresham House Ventures has also supported a restructuring of its international software development resources, as well as the appointment of a new Chair in April 2022.
The exit builds upon an active period of deal making, fundraising and recruitment for Gresham House Ventures. The team recently led a £7mn investment round in transport technology scaleup Vivacity, while earlier this month its Baronsmead VCTs invested a further £4mn in software business Patchworks and raised over £40mn so far in an ongoing fundraising offer.
Simon Bursell, Portfolio Director at Gresham House Ventures said:
“Our investment in Tharstern has underpinned a strong period of growth and adaptation for the business. We believe the business is now well placed to benefit from the scale that a larger owner could bring, and ePS is ideally positioned to support the business as it embarks on its next stage of development .”
Keith McMurtrie, CEO at Tharstern said:
“The investment from Gresham House Ventures has been vital for the growth of the business and supported the business through the pandemic. Looking ahead to our next period of growth, we are excited to work with ePS as we continue to develop our best-in-class offering for customers over the coming years.”
