London private equity firm Maven Capital Partners has led the £17m management buyout of Envitia Group, a data and geospatial technology and services provider to the defence and public sectors.

The transaction has been fully funded by Maven’s maiden institutional fund , Maven UK Regional Buyout Fund L.P.

Horsham-based Envitia works with organisations to solve data challenges covering a range of specialised areas such as data discovery and access, data modelling, data quality, AI, analytics and visualisation in the geospatial sector.

The funding from Maven will support the continued growth of the business, expansion of their services and further development of their proprietary software technology.

It has been operating in the data and geospatial market for over 30 years, offering a Data Discovery Platform (DDP), geospatial software and team of data experts.

The senior management team, led by CEO Nabil Lodey, were recruited in 2018 and refocused the business to provide a solutions orientated service for customers in the defence and public sectors to drive their digital transformation strategies.

The business is forecast to generate over £8m in 2020.

Tom Purkis, Partner at Maven, said: “The growth achieved in recent years, in addition to the significant market opportunity, demonstrates the clear potential for the Business under a strong and credible team.

“Envitia has built up an impressive blue-chip client base with its technology solutions now embedded in over 8,000 mission critical applications actively deployed worldwide. We have been impressed by Envitia’s technology solutions and comprehensive IP portfolio, and we look forward to helping the business achieve its growth objectives.”

Nabil Lodey, CEO at Envitia, added: “This deal is a significant milestone for Envitia and a real opportunity to accelerate the growth of the business through further product development in AI & ML as well as expansion into new sectors.

“We’re hugely passionate about the data and geospatial markets and want to serve our customers as a disruptive, innovative and forward-thinking data company.

“We were therefore delighted to partner with a highly experienced private equity house in Maven who are closely aligned with our vision and we look forward to working with them to achieve our ambitious growth agenda.”