Regent Assay advises Apiary Capital on its acquisition of XVR Simulation

Regent Assay advises Apiary Capital on its acquisition of XVR Simulation, the world’s leading provider of virtual reality simulation training software for the emergency services with customers in more than 50 countries.

Apiary Capital invests in e-learning software specialist XVR Simulation and supports bolt-on acquisition of LearnPro eFireservice.

Apiary Capital has announced an investment in XVR Simulation, a platform for consolidating online compliance and competency management and e-learning software businesses. Alongside this investment, XVR Simulation completed the bolt-on acquisition of LearnPro eFireservice, a competency management and compliance based e-learning provider to the NHS and the Fire & Rescue Services.

XVR Simulation is the global leader in virtual reality e-learning for the emergency services sectors. XVR’s suite of products, which includes a crisis scenario simulation platform, e-learning content library, learning management system and a workforce competency management platform, is used by fire, police and healthcare organisations in more than 50 countries.
The combined entity has over 450 fire, police and healthcare sector customers. The suite of products are used by leading public sector institutions to train over 300,000 emergency services and health care staff each year.

The market for e-learning content and software solutions is growing rapidly but remains highly fragmented. Through an ambitious buy-and-build strategy, XVR Simulation intends to build on its market position by extending its range of compliance and competency management software and e-learning solutions to critical risk sectors. The business is led by Joost Beerthuis (CEO), Espe du Plessis (CFO) and Stuart Layzell (Chairman).

“Merging XVR and LearnPro eFireservice is an exciting opportunity that brings together expertise in training both front line staff and incident response managers,” said Joost Beerthuis, CEO of XVR. “We are delighted to secure the support of Apiary Capital to create a global leader in virtual reality e-learning for the health and emergency services.”

Jeniv Shah, Partner at Apiary Capital, commented:

“XVR and LearnPro eFireservice are market leaders in their respective fields. They have developed a complementary suite of must-have software products for fire, police and healthcare customers with critical compliance, and learning and development requirements. We are pleased to be supporting Joost and the team’s ambition in bringing the two businesses together.

We engaged Regent Assay because it became clear from our conversations that they had good knowledge of many of the same segments of the TMT industries that we found interesting. The team led by Dolf Campman brought us a number of interesting opportunities, and in the case of XVR Simulation this resulted in the completion of an attractive acquisition. Their contribution to the execution of the transaction was also very helpful. We look forward to exploring further opportunities with the Regent Assay team.”

Dolf Campman added: “XVR Simulation is already the market leader in virtual reality simulation training and compliance for the emergency services sector and we perceive an enormous potential for further growth. This could turn out to be a visionary acquisition against the background of the billions of dollars being invested in the development of the metaverse”.

“We engaged Regent Assay because they had good knowledge of many of the same segments of the TMT industries that we found interesting. The team led by Dolf Campman brought us a number of interesting opportunities, and in the case of XVR Simulation this resulted in the completion of an attractive acquisition. We look forward to exploring further opportunities with the Regent Assay team.”

Jeniv Shah, Partner at Apiary Capital:

“This transaction demonstrates Regent Assay’s expertise and track record in the software and education technology sectors.”

The Regent Assay team was led by Dolf Campman.

Regent Assay has over 30 years’ experience in advising companies, providing Corporate Finance services ranging from company sales and divestments, acquisitions, capital financing, advisory services and valuations.

Whether you are seeking to acquire a company, divest a division or sell your business, Regent Assay’s industry knowledge, experience and global reach will ensure that you achieve the best result.