Seagull is a leading provider of technology-enabled training and compliance tools for the maritime, oil and gas industries. GMT originally backed Seagull in 2012. Over the period of GMT’s investment, Seagull increased its investment in off-the-shelf content library and software and grew its specialized sales team to enable the business to expand its product offering and global client base.
The sale of Seagull delivers a 2.3 x return and 35.4 percent internal rate of return to GMT in two and a half years.
Founded in 1993, GMT is an established private equity group dedicated to providing buyout and development capital to European mid-market businesses that are creating, delivering and/or monetizing the digital economy.
The Shearman & Sterling team advising on the transaction was led by partner Simon Burrows, who was supported by associate Tessa Parkes (all London-M&A).
Recently, Shearman & Sterling advised GMT on the merger of Multicom Security with Safetel (August 2014).