Tech: Synova Capital’s investment in Mallcomm
Armstrong is pleased to have provided Commercial Due Diligence (CDD) for growth investor Synova to support its investment in Mallcomm, a leading PropTech platform, providing management software to real estate investors, asset managers and operators.
Mallcomm provides the central point of communication between tenants and site operators to manage access, security and sales data collection. Over the last three years, through product development and geographical expansion, the company has grown by over 70 percent with adoption of the platform more than doubling in 2021. Mallcomm is now deployed across 650 properties with operations in the US, UK, and Europe. The businesses clients’ include some of the world’s largest commercial real estate owners and operators.
Synova’s investment will provide further capital for strategic M&A to expand Mallcomm’s capabilities and further penetrate other geographic markets and property sectors.
Armstrong provided full Commercial Due Diligence (CDD) including in-depth interviews with Mallcomm’s clients and market experts from property operators, investors, and real-estate advisors. Our commercial strategy work looked at market trends and assessed possible strategies for growth, as well as providing a detailed analysis of the competitive landscape.
Zachary Tsai, Partner at Synova said, “The Armstrong team developed a high-quality CDD report which evaluated our investment hypotheses on Mallcomm and the wider market. We chose to work with Armstrong on this deal because of their ability to produce coherent and valuable conclusions for us and the management team. Armstrong’s excellent work validated Synova’s investment thesis and confirmed Mallcomm’s offering is unique in its space and highly respected by its clients.”
Mike Callow, Partner at Armstrong, added, “We really enjoyed working with Mallcomm, and are delighted to have helped their transaction. We look forward to seeing Mallcomm grow in partnership with Synova. Mallcomm has a clearly differentiated market position in an underserved market.”
For more information or to find out Armstrong’s views on opportunities in the technology sector, please contact:
Mike Callow, Partner