British private equity firm Apse Capital Ltd. announced Wednesday the successful close of its €350 million ($370.1 million) continuation fund. The fund, led by J.P. Morgan Asset Management, will acquire three companies—TerraQuest, Kallidus, and Ultima Business Solutions—from Apse’s existing Bridge Fund to support their growth and pursue strategic mergers and acquisitions.
Portfolio Companies Poised for Expansion
The fund’s focus is to provide TerraQuest, Kallidus, and Ultima with resources to build on their market positions and explore new opportunities:
- TerraQuest delivers software solutions and technical data services for the U.K.’s land and property sector.
- Kallidus is a SaaS human capital management platform catering to over 1,200 mid-market customers in the U.K.
- Ultima Business Solutions provides IT infrastructure and managed services to public and private sector clients.
Apse Capital Managing Partner Tim Green highlighted the importance of the fund in driving the next phase of these companies’ growth.
