(Newcastle, 23 November 2015) Nomad Digital, the leading global provider of fleet connectivity, on-board passenger services and intelligent fleet management solutions, announces the completion of a £4m equity fundraising and an extension of its debt arrangements.
Existing investors Amadeus Capital Partners, SEB Venture Capital and Deutsche Telekom Strategic Investments have all participated in the round on a pari passu basis, in addition to members of the senior management team and other employees.
Provided by Silicon Valley Bank, Nomad Digital is also significantly strengthening its existing debt facilities from its current suppliers, at a more favourable overall interest rate.
For the full year ended 30 June 2015, Nomad Digital reported preliminary results showing growth of 47% for revenues of £42.7m, with EBITDA of £1.0m, following an investment of £4.0m in R&D. The new arrangements mean that Nomad Digital’s pro forma balance sheet for the year ended 30 June 2015 would have shown total equity of over £5m.
Andrew Taylor, CEO of Nomad Digital, commented,
“As we have demonstrated in our 2014/15 full-year financial results, Nomad is a fast growing market leading business, which is developing and implementing ground breaking technology for both new and existing customers around the world. These new financial arrangements represent a significant vote of confidence from our current investors, and provides a more flexible capital structure, which will support our ongoing growth and product investment plans, while enabling us to better support our customers, partners and other stakeholders.”
For more information please click here or contact:
Andrew Taylor, CEO
Kate O’Donovan, Head of Marketing
+44 20 7096 6966
Juliet Callaghan / John Elliott / Hattie O’Reilly
+44 20 7250 1446
About Nomad Digital
Nomad Digital is the world’s leading provider of wireless connectivity and ICT solutions to the transportation sector and is a pioneer of fleet digitisation. It boasts a rich suite of passenger and operational applications and services, which enables operators to significantly enhance the passenger experience, while delivering improved levels of reliability, safety and operational efficiencies.
Nomad’s solutions include its market leading Connectivity and WiFi suite of products and services, Passenger Information Systems (PIS), on-board entertainment platforms, and Remote Online Condition Monitoring (ROCM) and Reliability Centered Maintenance (RCM) solutions and services.
Nomad is an international business, with just under 300 employees and product development facilities in the UK (Newcastle), Germany (Hildesheim) and Portugal (Porto). Nomad serves over 50 customers which are spread across more than 20 countries in the UK, Europe, Australia and North America. Nomad Digital was founded in 2002 and is based in the North East of England.