HMT LLP advised Apiary Capital on their investment in XVR, a platform for consolidating online compliance management and e-learning software businesses. Simultaneous with the investment from Apiary, XVR completed the bolt-on acquisition of learnPro eFireservice, a competency management and e-learning software provider to the NHS and the fire & rescue sector.
XVR is the global leader in virtual reality e-learning for the emergency services sectors. XVR’s suite of products, which includes a crisis scenario simulation platform, e-learning content library, learning management system and a workforce competency management platform, is used by over 450 fire, police and healthcare organisations in more than 50 countries to train 300,000 staff each year. XVR helps ensure that staff working in critical risk sectors in the UK and internationally have the required knowledge and skills to maintain public health and safety.
The market for e-learning content and software solutions is growing rapidly but remains highly fragmented. Through an ambitious buy-and-build strategy, XVR intends to build on its market position by extending its range of compliance and competency management software and e-learning solutions to critical risk sectors.
HMT undertook financial due diligence for Apiary on this transaction.
Jeniv Shah, Partner at Apiary commented:
“We thoroughly enjoyed working with Paul and his team. HMT provided high quality work on this complex transaction, identifying the key issues early on and working tenaciously to help us complete the investment and acquisition in a timely and efficient manner.”
Paul Read commented:
“We are delighted to have advised Apiary on their investment in XVR and the subsequent bolt-on acquisition of learnPro. The merger of the two businesses makes of XVR a world leading business in virtual reality e-learning for the health and emergency services. We look forward to working with them again in the future.”