Three Hills partners with Smartbox Group alongside CareTech and Verdane
Verdane, the specialist growth buyout investment firm, has agreed to partner with Smartbox Assistive Technology Group in a move designed to accelerate international access to Augmentative and Alternative Communication (AAC). Verdane will become the majority shareholder in the business through the partnership.
46 million people worldwide have complex communication needs and could benefit from AAC. Yet research suggests only 1-2% of them have access to technology that can support them. Partnering with Verdane, which offers deep expertise in technology and scaling impact sustainably, will allow for greater investment in Smartbox’s mission to leave no one without a voice.
A strengthened investment in innovation will ensure that Smartbox continues to raise the bar for what AAC technology can achieve, with the business targeting a three-fold increase in the number of people it serves by 2030. Smartbox has delivered some of the first AI-powered features within its flagship AAC software Grid this year, with new, powerful tools enhancing user experience.
Majority shares were previously held by the CareTech Group, who will continue to be a minority shareholder in Smartbox.
Three Hills, a private markets investment firm specialised in providing bespoke capital solutions to entrepreneur- and management-led businesses in Europe and North America, will invest alongside Verdane and CareTech. The transaction marks the fourth investment from Three Hills’ sustainability-focused strategy, Three Hills Impact.
Dougal Hawes, Chief Executive Officer of Smartbox Group, commented that “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.”
Johanna Rydén, Director at Verdane, said: “We’re thrilled to partner with the Smartbox team to accelerate global access to their pioneering technology and to continue the company’s growth journey. Smartbox has demonstrated clear innovation in building its AAC solution and we’re looking forward to working alongside the entire team.”
Haroon and Farouq Sheikh, Co-Founders of the CareTech Group added, “We are delighted to welcome the team from Verdane into this partnership to offer expertise and support for the Smartbox Group as it grows. We fully stand behind their mission and can’t wait to see what the next chapter holds.”
Smartbox employs around 750 people, has UK headquarters in Bristol and Malvern and a global presence that spans the US, Germany, France, the Netherlands and Australia. Verdane has offices in London, Berlin, Munich, Oslo, Stockholm, Copenhagen and Helsinki.
William Blair acted as exclusive financial advisor to Smartbox and CareTech Group.
About Smartbox
Smartbox is a market-leading provider of augmentative and alternative communication (AAC) technology, designed to support communication, connection and independence for people with speech and language disabilities. Headquartered in the UK and serving users worldwide, Smartbox solutions are used by over 100,000 people around the globe, including dedicated communication aids, environmental control tools, and educational software that support diverse access needs.
At the heart of Smartbox’s offering is Grid, its flagship AAC (Augmentative and Alternative Communication) software. Grid supports both symbol and text-based communication and is compatible with multiple access methods, including touch, eye gaze, and switch input. At least 20 million words are spoken using Grid every week, making it one of the most widely adopted AAC platforms in the world. Smartbox also produces best-in-class devices like the Grid Pad and Talk Pad, alongside Look to Learn, a bestselling eye gaze learning tool.
Smartbox technology is currently available in 37 languages, distributed in more than 175 countries, and supported by a dedicated team of 750 employees and 50 global partners. The company’s work is driven by the belief that people who face challenges with spoken communication deserve the opportunity to express themselves, form meaningful connections, and fully participate in society.
Guided by the principle that “one size fits one,” Smartbox recognises that every AAC user is unique. From individual access needs to personal communication goals, Smartbox products are designed to reflect and support that individuality through user-led development, inclusive design, and a deep commitment to quality, reliability, and simplicity.
The Smartbox Group also includes REHAVISTA (Germany), Talk to Me Technologies (USA), KMD (Netherlands), Smartbox France, and Zyteq (Australia) forming a global family united by a shared mission: ensuring that no one is left without a voice.
To learn more, visit: www.thinksmartbox.com or find @SmartboxAAC on social media.
Media contact: Amelia Strawson, Group PR and Comms Manager, amelia.strawson@thinksmartbox.com
About Verdane
Verdane is a specialist growth buyout investment firm that partners with tech-enabled and sustainable businesses that help to digitalise and decarbonise the European economy. The flexible mandates of Verdane funds allow it to invest as a majority or minority control investor, replacement or growth capital, in single companies or in portfolios of companies.
Verdane has raised €9 billion in capital and its funds have made more than 200 investments in fast-growing businesses since 2003. Verdane’s team of over 150 investment professionals and operating experts is based out of Berlin, Copenhagen, London, Helsinki, Munich, Oslo and Stockholm, and combines deep sector expertise with long-standing local networks and presence in core European markets.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
Media contact: James Cook, james.cook@verdane.com
About The CareTech Group
The CareTech Group is a leading provider of healthcare, education, social care, training and technology innovations. For over 30 years we have offered specialist, high quality services for children, young people and adults with complex needs in more than 550 locations in the UK and internationally.
Our vision is a world where there is equal opportunity for a life fully lived. To play our part in this vision, we enable children, young people and adults with complex needs to make their own life choices, and to develop confidence and independence to live, learn, thrive and engage, building better futures. We refer to this as providing ‘Extraordinary Days, Every Day.’
Our portfolio of services, delivered by over 12,000 colleagues, supports a range of people with mental health needs, learning disabilities, autism, acquired brain injury, physical disabilities or other complex needs across hospitals, residential services, schools and foster care.
Media contact: Alison O’Donnell, Group Communications Director, alison.odonnell@caretech-uk.com
About Three Hills
Three Hills is an established private markets investment firm providing bespoke capital solutions in Europe and North America through three dedicated investment strategies. With around EUR 3.2 billion in assets under management, the firm offers financing solutions to middle market businesses. Three Hills has become a trusted partner for entrepreneurs seeking active, hands-on involvement and value creation expertise throughout the investment period, with a proven track record supporting its portfolio companies in executing over 60 M&A acquisitions and entering more than 70 new geographies to date. As a certified B Corporation since 2022, Three Hills embeds sustainability and responsible investment at the heart of its activities, managing both SFDR Article 8 and Article 9 strategies, advancing rigorous ESG and impact frameworks reflecting its belief that sustainable value creation and innovative capital solutions go hand in hand. With offices in London, Milan, New York, Paris, Madrid and Luxembourg, the firm operates with a team of 70 professionals.
For further information, visit www.threehills.com
Media Contacts:
Anna Vivaldi: a.vivaldi@threehills.com
SEC Newgate threehills@secnewgate.co.uk