Bowmark Capital has acquired a significant minority stake in Focus Group, a UK provider of communications and IT solutions.
Bowmark Capital has acquired a significant minority stake in Focus Group, a UK provider of communications and IT solutions.
Founded in 2004 by Ralph Gilbert and Chris Goodman, Focus provides a range of integrated technology solutions – including hosted voice, cloud applications, mobile, connectivity and IT services. These are delivered as a managed service to more than 15,000 businesses. The company has revenues of over GBP 80 million and employs close to 300 people.
Focus has achieved strong organic growth by providing cost-effective, bespoke solutions across a wide range of products, with a strong emphasis on customer service. It has also acquired and integrated eight businesses over the past two years to expand its talent pool, build scale and enhance its product range. As part of the deal, additional funding of over GBP150 million is being provided to accelerate the company’s acquisition programme.
“We have been following the information and communications technology sector for a number of years, and have been impressed by Focus’s outstanding track record of growth, its service excellence, and by the vision and ambition of its management team,” said Bowmark partner Stephen Delaney.
“We are delighted to have the opportunity to support Chris, Ralph and the team as they capitalise on the company’s significant growth opportunities, both organically and through acquisition,” he added.
Focus Group’s co-founder Chris Goodman said: “After running a tight process we are delighted to have partnered with Bowmark. We have an incredible team whose ambitions know no bounds, and with an investor of Bowmark’s pedigree on our side we are looking forward to capitalising on the foundations we have laid and delivering on our objectives.”
Founded in 1997, Bowmark Capital is a private equity investment firm specialising in UK mid-market companies manages and advises funds totalling close to GBP1.5 billion on behalf of a blue chip investor base including public pension funds, insurance companies and financial institutions from the UK, US and Continental Europe.
Bowmark is backing companies within the business services, financial services, media, technology, consumer and leisure, education and training, and healthcare sectors.
Its portfolio includes Latin American restaurant chain Las Iguanas, Law Business Research, a provider of research, news, data and insight on international business law and legal markets; and educational travel company Oxford International.
Bowmark partner Stephen Delaney said: “The team at Focus have built an impressive business over the last decade and a half and have a compelling plan for the future. We look forward to working with them.”
