Oakley Capital invests in XTEL

26 May 2026

Oakley Capital Investments Limited

Oakley Capital Investments Limited1 ("OCI") is pleased to announce that Oakley Capital Fund VI2 ("Fund VI") has agreed to invest in XTEL, a leading provider of revenue management and trade promotion software for consumer packaged goods companies.

OCI's indirect contribution via Fund VI is anticipated to be up to c.£33 million, which relates to OCI's share of Oakley's investment in XTEL.

Further details on the transaction can be found in the below announcement from Oakley Capital3.

Oakley Capital invests in enterprise software platform XTEL

Oakley Capital, a leading mid-market, pan-European private equity investor, is pleased to announce that Fund VI has agreed to acquire a majority stake in XTEL, a leading provider of revenue management and trade promotion software for consumer packaged goods companies.

XTEL's software platform enables consumer packaged goods companies, including food, beverage and household brands, to plan, manage and optimise the trade promotions they run with retailers. The platform analyses large amounts of sales, pricing, customer and financial data to help businesses manage and optimise promotions in order to improve profitability and drive revenue growth.

XTEL serves more than 400 global mega-brands, including Unilever, PepsiCo and Johnson & Johnson, and supports over €350 billion in annual trade spend. The Company operates in an $11 billion CPG software market underpinned by structural tailwinds, including sustained pressure on CPG margins, retailer consolidation, improved access to consumer data, and growing omni-channel complexity. At the same time, rapid adoption of AI and data-driven decision-making is accelerating demand for best-in-class platforms such as XTEL.

XTEL's software brings together large amounts of complex sales and commercial data into one system that customers rely on as a core system of record. Combined with the Company's deep industry expertise, this creates a highly embedded and mission-critical solution. AI is expected to further enhance the platform's capabilities, enabling customers to make faster and better decisions using the data already managed within XTEL.

XTEL has consistently generated strong, profitable growth including ARR growth of c.40% CAGR over the last three years. Oakley Capital will leverage its extensive track record of supporting European software businesses to drive growth through international expansion and M&A. This investment will support XTEL in accelerating its presence in key growth markets such as Latin America and Asia-Pacific, while also expanding into adjacent geographies, brands and product categories, and further strengthening its AI tech stack, sales capabilities and go-to-market strategy.

XTEL will continue to be led by Rob Mullen, a highly experienced enterprise software CEO who has transitioned XTEL to a system of record SaaS platform, while successfully pursuing organic and M&A growth. 

Peter Dubens, co-Founder and Managing Partner of Oakley Capital, said: "XTEL's software is trusted by the world's leading consumer brands to power essential workflows, while its deep expertise in complex data underpins its role as a critical system of record. We believe the Company is well-positioned to harness AI to enhance its product offering and further strengthen its market position. We look forward to working with Rob to support the next stage of XTEL's growth."

Rob Mullen, XTEL CEO, said: "I'm very pleased to welcome Oakley Capital as our new investor. Oakley's expertise in building European technology champions is highly relevant for XTEL as we look to accelerate our growth by expanding into new regions, products and industry verticals."

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For further information please contact:

Oakley Capital Limited

+44 20 7766 6900

Steven Tredget

Greenbrook

+44 20 7952 2000

Rob White / Michael Russell / Theo Bryan

Deutsche Numis (Financial Adviser & Broker)

+44 20 7260 1000

Nathan Brown / Matt Goss

Notes:

LEI Number: 213800KW6MZUK12CQ815

1 About Oakley Capital Investments Limited ("OCI")

OCI is a closed-ended investment fund trading on the main market of the London Stock Exchange as an Official List Company. OCI aims to provide shareholders with consistent long-term capital growth in excess of the FTSE All-Share Index by providing liquid access to private equity returns through investment in the Oakley Funds.

A video introduction to OCI is available at https://oakleycapitalinvestments.com/videos/

The contents of the OCI website are not incorporated into, and do not form part of, this announcement.

2 The Oakley Funds

Oakley Capital Private Equity II, Oakley Capital Private Equity III, Oakley Capital IV, Oakley Capital V, Oakley Capital VI, Oakley Capital Origin and Oakley Capital Origin II are unlisted lower-mid to mid-market private equity funds that aim to provide investors with significant long-term capital appreciation. The investment strategy of the Funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement. The Oakley family of funds also includes Oakley PROfounders Fund III and Oakley Touring Venture Fund, which are venture capital funds focused on investments in entrepreneur-led, disruptive, technology led companies.

3 Oakley Capital, the Investment Adviser

Founded in 2002, Oakley Capital Limited has demonstrated the repeated ability to source attractive growth assets at attractive prices. To do this it relies on its sector and regional expertise, its ability to tackle transaction complexity and its deal generating entrepreneur network.

Important information

Oakley Capital Investments has now been admitted to the Official List of the Financial Conduct Authority. Therefore, the Company is now required to satisfy the eligibility criteria for admission to listing on the Official List, and is required to comply with the Financial Conduct Authority's Listing Rules, including in relation to transactions with related parties, financial reporting, contents of shareholder circulars and other continuing obligations.

This announcement may include "forward-looking statements". These forward-looking statements are statements regarding the Company's objectives, intentions, beliefs or current expectations with respect to, amongst other things, the Company's financial position, business strategy, results of operations, liquidity, prospects and growth. Forward-looking statements are subject to risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Accordingly, the Company's actual future financial results, operational performance and achievements may differ materially from those expressed in, or implied by, the statements. Given these uncertainties, prospective investors are cautioned not to place any undue reliance on such forward-looking statements, which speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the Company's expectations with regard to them or any change in events, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Regulation Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.