Three Hills Capital Partners has invested 45 million euros in Madrid-based Goal Systems, a provider of optimization software to the mass transit industry. No financial terms were disclosed.
Correction: An earlier headline and version of this news report misstated the details of the transaction. THCP did not buy Goal but made an investment. The information has since been corrected.
8 October 2019, London: Three Hills Capital Partners (‘THCP’) and the founding shareholders of Goal Systems (‘Goal’ or the ‘Company’), one of the leading global providers of state-of-the-art optimization software to the mass transit industry, are pleased to announce the completion of a €45m preferred capital investment by THCP in the Company.
Founded by Mr. Javier Mira and Mr. Jerónimo Garrido, Goal is a Madrid-based provider of cutting-edge solutions focused on optimised planning and scheduling for the transportation sector. The Company, which has contracts in more than 25 countries across Europe, Latin America, the Middle East, and Asia, serves transit authorities, operators, and other industry participants who rely on the Company’s expertise to improve the efficiency, competitiveness, and sustainability of their operations. Goal has served some of the world’s leading transportation firms including Renfe, RATP, LTA, Transmilenio, SNCB, PTC Riyad, Alsa Group, KeolisAmey Docklands, and Metro Rio de Janeiro, among others.
THCP’s capital will allow Goal to further accelerate its growth, enabling additional investment into the Company’s technological capabilities and facilitating the completion of select strategic acquisitions. Goal’s acquisition activity will focus on targets in the optimisation space that are able to complement the Company’s ambitious and innovative product roadmap, as well as in adjacent sectors to accelerate the development of the Company’s technological capabilities.
THCP’s investment in Goal, which represents the fund’s latest investment in Spain, reinforces the firm’s commitment to the Spanish market and to those entrepreneurs looking for a growth-minded partner and alternative capital solution. The fund’s first investment in Spain was in Pelostop, a leading provider of laser hair removal and aesthetic medicine.
THCP closed its third fund of €540m earlier this year, and is actively pursuing new opportunities in growing companies in Europe and North America, especially those led by ambitious entrepreneurs seeking capital, a partner, and lower dilution than traditional private equity. THCP invests in tickets between €30m – €70m.
Michele Prencipe, Partner of THCP, noted: “Goal is an exciting, entrepreneur-led business, and it has been an absolute pleasure coming to know Javier and Jerónimo and to appreciate their vision for what the Company can achieve in the coming years. We look forward to partnering with them and the rest of Goal team in this endeavour, and providing support towards each of their growth initiatives.”
Lance Contento, Principal at THCP, further noted: “We have been immensely impressed by Goal’s team, especially by their entrepreneurial approach and global ambitions. We are delighted to partner with such an innovative company providing vital solutions to the mass transit industry.”
Javier Mira from Goal said: “The THCP investment team has demonstrated significant confidence in our firm. With them, we feel even stronger and our capabilities have been enhanced. We are sure this alliance will allow Goal to keep boosting our value-added proposition for clients: best in class technology with a maximum commitment and service. That is the Goal DNA”
Jerónimo Garrido from Goal said: “We are very happy that a first-class institutional investor like THCP has decided to join our project. They have demonstrated a robust understanding of our business, as well as a strong commitment and dedication to this venture, and we are enthusiastic about this new stage of the Company’s life”
Goal Systems’ shareholders were advised by V4 Financial Partners (M&A advisor) and Eversheds (legal).
THCP was advised by Cuatrecasas (legal), Ernst & Young (financial and tax), and A.T. Kearny (commercial).
About Goal Systems
Goal Systems is an advanced software provider for the optimization of transport operations. The Company develops and implements IT systems with advanced optimization techniques in order to achieve the greatest profitability, competitiveness, and sustainability of its clients’ businesses through optimal scheduling and sizing of resources. For more information, please visit https://www.goalsystems.com/
About Three Hills Capital Partners
Three Hills Capital Partners is an innovative investment house delivering enhanced risk-adjusted returns investing through preferred capital instruments.
THCP currently manages approximately €1.2 billion AUM. Since inception, THCP has invested approximately €850 million in successful mid-market companies across Europe, collectively valued at c.€3 billion of enterprise value at the time of initial investment.
THCP provides partnership capital and investment support to mid-market companies which want to invest in growth but also to limit dilution and maintain control. This appealing alternative to control-orientated private equity serves a gap in the financing market for the mounting number of companies run by outstanding entrepreneurs looking to propel their businesses to their next phase of growth.
THCP’s portfolio companies include amongst others ACT, Hunter Boots, MA Group, Recycling Lives, Sigma GRP, Tomorrow London, Trak Global, and WPI Group