Queue-it announces majority investment agreement with THL
The private-equity firm will invest through Automation Fund II as GRO sells its shareholding.
The agreement announced on 18 August sets out a change in ownership of the Danish traffic-management business. Financial terms and any allocation to newly issued capital were not disclosed. Adviser Houlihan Lokey subsequently confirmed that the transaction closed on 30 September.
THL places Queue-it within its IT operations and data investment focus. The partnership comes as businesses face demand from both people and automated agents, making control over access an operational issue as well as a capacity problem.
Use of funds
Support product innovation and international expansion under the new ownership partnership