Shaw & Co advises Smartbox on deal with investor Verdane

Alternative communication company Smartbox has attracted a major new investment from Verdane. Shaw & Co advised Smartbox’s management team on the new partnership,  which will see Verdane become the majority shareholder in the business.

Augmentative and Alternative Communication (AAC) technology is designed to help people who have difficulty with writing or speech. This can be used to support people with developmental disabilities such as cerebral palsy, neuro-divergent conditions such as autism, or acquired conditions such as amyotrophic lateral sclerosis and Parkinson’s disease.

Although more than 46 million people worldwide have complex communication needs that could benefit from AAC, it is estimated that just 1-2% have access to these technologies. Headquartered in Bristol and Malvern, Smartbox is a market-leading creator of software and hardware solutions that give a voice to disabled people without speech and enables them to live more independent lives.

Since its launch in 2006, Smartbox has assembled a team of around 750 people and has a global presence that spans the US, Germany, France, the Netherlands and Australia, while Verdane has offices in London, Berlin, Munich, Oslo, Stockholm, Copenhagen and Helsinki. As it looks to grow this team, and take its important mission to the next level, it has sought investment from an external partner.

The new partnership with Verdane, a specialist growth buyout investment firm, aims to accelerate international access to AAC technology from Smartbox. According to a release from the firm, the new funding “provides a solid foundation for the company’s plans for a three-fold increase in the number of people it serves by 2030.”

Dougal Hawes, CEO of Smartbox Group, said, “Choosing a values-driven organisation was essential for us when looking for a partner to help achieve our vision of a world where no one is left without a voice. Verdane stood out by going above and beyond to understand the needs of the AAC community and how Smartbox can support them through our technology and services. This partnership marks a milestone moment for the Smartbox Group as we expand our ability to support and serve more people around the world who need access to AAC.” 

Deal advisors

The deal will see Verdane take over as majority shareholder of Smartbox – a position previously held by the CareTech Group, which will continue to be a minority shareholder. Meanwhile, Three Hills, a private markets investment firm specialising in providing bespoke capital solutions to entrepreneur and management-led businesses in Europe and North America, will invest alongside Verdane and CareTech.

Shaw & Co advised the Smartbox management team of Hawes, Jarrod Inott, Hannah Church and Simon Poole on the deal which will see Verdane become the majority shareholder in the business.

Jim Shaw, senior partner, Shaw & Co, explained, “The management team at Smartbox have done a phenomenal job growing the business to create an international organisation that is having impact on a global scale. We were delighted to again assist Dougal, Jarrod, Hannah and Simon with this next step in a truly exciting journey.”