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BGF brings Scotland spending to £36.9m with Inoapps backing

9 Sep 2013

scotland_sporran_170sqUK investor Business Growth Fund has made its seventh investment in Scotland by providing £10m to Oracle applications, tech and hardware services provider Inoapps.

The deal for a minority stake in the business brings BGF’s investments in Scotland to just over £36.9m.

BGF investment director Mike Sibson has been appointed to the board following as part of the deal.

It said Inoapps was on a high growth trajectory and had doubled turnover in each of the last two years, turning over around £20m to year-end July 2013.

BGF investment director Mike Sibson said, “Andy Bird is a driven entrepreneur who has built Inoapps into a successful business over the last six years.

“[Inoapps] is on a highly impressive growth trajectory, driven by consistent high quality project delivery, [CEO Andy Bird’s] strong leadership and the experienced management team.

“The team has demonstrated its ability to lead the delivery of larger projects to blue chip clients, with outstanding results.

“Andy has a vision for how Inoapps will build on this platform both in the UK and overseas.

“BGF was established to provide long term capital to ambitious UK companies and we are very excited to become part of that vision.”

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