Private Equity Firm Takes Minority Stake In Atheon
Atheon Analytics, a provider of visual analytics products and services to the UK's grocery supply chain, has secured investment from private equity investor EmergeVest, in exchange for a minority shareholding.
Milton Keynes-based Atheon will use the seven-figure investment to accelerate its growth plans, applying leading edge technology to its software-as-service portfolio for the UK grocery supply chain.
Existing investors, chief executive and founder, Guy Cuthbert and commercial director, Ian Hall, will continue to serve in their respective roles as Atheon's senior management. They are joined by Craig Sears-Black, a software industry leader, who has been appointed as non-executive chairman.
Best known for its investments in international supply chain and logistics, EmergeVest is also focused on software and technology services and previously participated in the creation of Adjuno, a lUK retail supply chain software business, as well as Groove Technology, a Vietnam-based provider of outsourced software development services.
Atheon's SKUtrak product, which blends visual analytics expertise with advanced algorithms, provides more than 500 suppliers to the Big Four supermarkets with the tools to investigate, understand and action ripples in the flow-of-goods to improve availability, reduce waste and best serve shoppers and consumers.
"We are delighted to accept this investment from EmergeVest, both as recognition of the business we have built to date working with the ‘Big Four’ grocers, and as an endorsement for the next stage of our growth plan to address the broader grocery retail market," said Atheon's Guy Cuthbert.
Craig Sears-Black added: “UK Grocery retail is impacted by around £9 Billion of lost-sales each year. Supply chain data is often overlooked, but giving suppliers better visibility of this data is a simple and effective solution.
Heath Zarin, chief executive and managing director of EmergeVest, said the firm was particularly excited by the potential for Atheon's advanced data analytics to "deliver actionable insight to an ever-expanding portfolio of customers and across the EmergeVest family of businesses".