Veritek Global Ltd.
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Veritek Global Ltd. - overview
Location
-, -, UK
Primary Industry
Construction
About
Veritek Global Ltd. specializes in delivering tailored after-sales service partnerships for Original Equipment Manufacturers (OEMs) across diverse industries, including healthcare and digital cinema, ensuring operational efficiency through effective support solutions. Veritek Global Ltd. operates as a provider of after-sales services for OEMs, focusing on sectors such as medical equipment, robotics, and photo imaging.
The company was acquired in July 2013 by Mobeus Equity Partners for GBP 11 million, allowing it to expand its operations in Europe. It is headquartered in the UK and boasts a network of engineers across the continent, enhancing its service capabilities. The founder's history is not detailed in the available information. Veritek Global Ltd specializes in providing comprehensive after-sales service partnerships tailored for Original Equipment Manufacturers (OEMs) across various industries, including medical equipment, robotics, print and graphics, optometry, digital cinema, and photo imaging.
The company’s core offerings encompass planned preventative maintenance, breakdown support, equipment installation services, and remote support helpdesk, with an emphasis on multi-lingual assistance to ensure seamless communication across diverse customer bases. Veritek’s strategically located engineers throughout Europe deliver prompt technical support, ensuring equipment such as diagnostic imaging tools and photo-finishing kiosks operate to Original Equipment Manufacturer specifications. The end user clientele includes over 100 European equipment manufacturers and service providers, spanning sectors from healthcare facilities to retail environments, thereby enhancing operational efficiency and customer satisfaction across the continent. Veritek generated revenue of GBP 16,644,600 in the most recent year, with an EBITDA of GBP 757,924.
The company primarily engages in business-to-business transactions through direct partnerships with OEMs and end users. Its service agreements typically involve contracts for ongoing support, which may include annual subscriptions for preventative maintenance and response services, in addition to fees for specific repairs and installations. Revenue is also derived from emergency breakdown services, which clients can access through Veritek’s multilingual helpdesk. The pricing for their extensive service portfolio is based on the complexity and urgency of the required services, ensuring tailored solutions for their clients' operational needs.
Veritek Global Ltd. plans to leverage its recent acquisition by Mobeus Equity Partners to broaden its offerings and expand into new sectors within Europe. The funding from the GBP 11 million deal will support these initiatives, enhancing their service capabilities and market reach. Specific upcoming products and services are not detailed, but the company aims to strengthen its position across various industries by utilizing the strategic advantages gained from this investment.
Current Investors
Mobeus Equity Partners
Primary Industry
Construction
Sub Industries
Construction
Website
www.veritekglobal.com
Verticals
Manufacturing
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
Veritek Global Ltd. - timeline of key events
Veritek Global Ltd. - financials
| Fiscal Year Ended | Mar 31, 2010 | Mar 31, 2011 | Mar 31, 2012 | Mar 31, 2013 | Mar 31, 2014 | Mar 31, 2015 | Mar 31, 2016 | Mar 31, 2017 | Mar 31, 2018 | Mar 31, 2019 | Mar 31, 2020 | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 | Mar 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 25,284,000 | 26,870,000 | 25,412,000 | 24,684,000 | 15,185,000 | 16,591,000 | 14,524,000 | 14,148,000 | 14,011,000 | 11,019,000 | 10,209,000 | 6,143,000 | - | - | - |
| % Revenue Growth (YoY) | - | 6.3% | (5.4%) | (2.9%) | (38.5%) | 9.3% | (12.5%) | (2.6%) | (1.0%) | (21.4%) | (7.4%) | (39.8%) | - | - | - |
| EBITDA (USD) | 2,742,000 | 1,398,000 | 2,299,000 | 2,262,000 | (509,000) | 2,126,000 | 1,886,000 | 918,000 | 549,000 | 251,000 | 296,000 | 66,000 | - | - | - |
| Operating Income (USD) | 1,226,000 | (326,000) | 581,000 | 223,000 | (2,341,000) | 1,058,000 | 686,000 | (245,000) | (326,000) | (388,000) | (58,000) | (120,000) | - | - | - |
| Operating Margin | 4.8% | (1.2%) | 2.3% | 0.9% | (15.4%) | 6.4% | 4.7% | (1.7%) | (2.3%) | (3.5%) | (0.6%) | (2.0%) | - | - | - |
| % EBITDA Margin | 10.8% | 5.2% | 9.0% | 9.2% | (3.4%) | 12.8% | 13.0% | 6.5% | 3.9% | 2.3% | 2.9% | 1.1% | - | - | - |
| NET Income (USD) | 382,000 | (1,033,000) | (113,000) | (433,000) | (2,998,000) | 553,000 | 270,000 | (465,000) | (432,000) | (528,000) | (142,000) | (147,000) | - | - | - |
| % Net Margin | 1.5% | (3.8%) | (0.4%) | (1.8%) | (19.7%) | 3.3% | 1.9% | (3.3%) | (3.1%) | (4.8%) | (1.4%) | (2.4%) | - | - | - |
Veritek Global Ltd. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Buyout | Completed | Veritek Global Ltd. | - |
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Veritek Global Ltd. - employee data
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