NorthEdge exits Cubic Motion

NorthEdge Capital has sold Cubic Motion, a UK-based provider of computer vision and facial animation technology, to Epic Games.

NorthEdge Capital has sold Cubic Motion, a UK-based provider of computer vision and facial animation technology, to Epic Games. No financial terms were disclosed.

PRESS RELEASE

NorthEdge Capital has completed the second exit from its Fund II with the sale of Cubic Motion to Epic Games.

NorthEdge’s investment in September 2017 unlocked the next phase of growth for Cubic Motion, which saw the business expand into US markets with a permanent presence in Los Angeles and transition into new headquarters at Manchester Science Park.

The Cubic Motion investment was led by George Potts, Investment Director, and Jon Pickering, Partner at NorthEdge. The exit was led by Potts and supported by Grant Berry, Managing Partner. Legal advice was provided by David Mkhitarian, Hill Dickinson.

Cubic Motion CEO, Dr. Gareth Edwards, said: “Following our highly successful partnership with NorthEdge, we are delighted to be joining Epic Games and look forward with excitement to this next chapter in our story.”

George Potts, Investment Director at NorthEdge Capital, said: “Three years ago, we were hugely impressed by Cubic Motion’s demonstration at SIGGRAPH Real-Time Live! We completed a growth capital investment shortly thereafter, and our partnership has enabled Cubic’s research team to drive forward their unique ‘analysis-by-synthesis’ approach to computer vision.”

“In concluding our second exit from NorthEdge Capital Fund II, we are excited to see Cubic’s Manchester-born intellectual property and world-leading team join forces with Epic’s Unreal Engine Team. Cubic’s journey will continue, and we’re proud to have supported the team and played our part in their success to date.”

For more information and background on Cubic Motion, visit: https://www.unrealengine.com/en-US/blog/cubic-motion-joins-the-unreal-engine-team

About NorthEdge Capital
NorthEdge Capital manages over £650m of private equity funds aimed at the North of England and Midlands regions targeting buy-out and development capital transactions. The private equity firm closed its maiden Fund at £225m March 2013, Fund II at £315m in March 2016 and SME Fund I at £120m in July 2018.

NorthEdge Capital focuses on companies seeking equity investment to support MBOs, development capital and equity release transactions. NorthEdge invests between £2-£45m, focusing on established businesses, typically with a turnover greater than £5m and profits greater than £0.5m and is currently investing from both Fund II and SME Fund I.

The senior team at NorthEdge has over 150 years’ experience in structuring and financing private equity transactions. The firm takes a management-orientated approach with a culture of delivery where smart, opportunistic thinking supported by meaningful due diligence and sound perspectives are valued. It focuses on value creation and capital return to the benefit of all stakeholders.

NorthEdge Capital LLP (www.northedgecapital.com)