BGF backs UK IT business PTS with £8.7m


server-cable-IT-internet-networkUK growth capital provider BGF has invested £8.7m in London-headquartered IT consulting and project management business PTS.

The 30-year-old business boasts 17 of the top 20 global investment banks as clients, while its work has included multimedia experiences at the London 2012 Olympics aquatic centre and velodrome and The Shard skyscraper.

CEO Kevin Perrett led an MBO of PTS in 1990, when it operated out of one London-based office with just eight employees.

BGF investment director Tim Whittard said, “I have known PTS since 2003 and have enjoyed seeing its continual expansion, doubling in size every three to five years purely from its own resources.

“The team has done a remarkable job to develop a business with a presence in 10 countries, serving over 4,500 customers and with annual turnover approaching £40m without any external investment.

“However, Kevin and his team have a strategy to continue to develop the business and at a faster rate than before so they can take full advantage of this exciting, high growth market place.

“This strategy requires capital and additional expertise and this is where BGF can help.  It is a perfect example of a proven, dynamic and entrepreneurial team taking a considered and long-term view to growth.

“PTS exemplifies many of the different situations that BGF likes to support.  Whether a business is national or international, operates in a traditional or new sector, or has a single shareholder or a diverse base of collective interests, our focus is on identifying and backing quality businesses with growth potential.”

Last month BGF invested £4m of growth capital for a minority stake in precision-engineered vehicle component maker VTL Group.

The deal marked BGF’s tenth investment in the manufacturing sector, but only its first in the automotive industry.

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