Buckinghamshire-headquartered queue services business The Tensator Group has acquired Newvision with the help of its existing private equity backer The Riverside Company.
Buckinghamshire-headquartered queue services business The Tensator Group has acquired Newvision with the help of its existing private equity backer The Riverside Company.
Newvision, which is based in Portugal and provides self-service systems such as interactive kiosks and digital displays, has achieved a reported 20 per cent growth per year in revenues since 2008 and currently has 400 customers.
Tensator is most well known for its Tensabarrier retractable post, which is used to form segregation in queues.
According to a statement, the acquisition of Newvision will provide a platform to enter the fast-growing ‘non-linear or dispersed’ queueing market. Financial details of the purchase are undisclosed.
Alan McPherson, chief executive officer of Tensator, comments: ‘Having access to Newvision’s excellent dispersed queueing technology is critical to our continued success in becoming the definitive global leader in the management of the customer journey.
‘Now, with Newvision and Tensator under the same Riverside umbrella, we can provide an even more diverse range of revenue and margin enhancement, labour savings and customer experience solutions.’
Riverside initially acquired Tensator in August 2008 through its Riverside Europe Fund III for an undisclosed amount. The investment firm has a stated strategy of acquiring growing enterprises valued at up to $200 million (€200 million in Europe).
Riverside partner, Karsten Langer, says that the combined offering will have a ‘major’ impact on both businesses.
He adds: ‘There is an excellent fit between both strategies, which opens the door to significant synergies and cross-selling opportunities.
‘Newvision’s renowned technology in dispersed queueing, combined with a strong management team that will remain in place, are a great complement to Tensator.’
The queue management and interaction management markets are reported to have an annual value of $2.3 billion globally.
Advisers on the deal included Ernst & Young and KPMG.
