Mon, 20 Jun 2022 | BUSINESS SALE
Beech Tree Private Equity has sold digital transformation and technology solutions firm BCN to ECI Partners in a deal that generates a 5.3x return on its initial investment. Beech Tree acquired BCN four years ago and, since then, has helped drive organic and acquisitive growth at the firm.
BCN Group, which initially operated largely as a support services firm and reseller of IT hardware, has now grown to become one of the UK’s leading technology solutions companies and provides a full digital transformation offering.
Beech Tree’s investment has helped to rapidly accelerate the company’s growth. At the time of Beech Tree’s acquisition, BCN was generating revenue of approximately £10 million. The company’s annual turnover now stands at over £40 million.
Commenting on deal, Beech Tree Private Equity partner Adam Rudd said: “When we backed them in 2018 we could see the potential to create a market leading Microsoft partner capable of supporting the entirety of a customer’s digital transformation journey. Through an alignment of our shared vision and a focused execution of our organic and M&A strategy, we have achieved what we set out to do.”
BCN co-founder Simon Kelf commented: “We have built a market leading management team and importantly created what we set out to achieve. The organic growth supplemented by selected acquisitions have allowed us to become a market leader in the space.”
BCN Group CEO Rob Davies added: “In this age of digital transformation, there is a phenomenal growth opportunity for BCN Group to support clients to solve their IT challenges and achieve the best possible results from technology for their business. When I joined BCN Group both management and Beech Tree agreed a strategy to position us as a market leading business for the future.”
“Together we have created an incredible business. I look forward to the next stage of our journey partnering with ECI Partners as we focus on our goal of becoming the UK’s market leading Microsoft MSP”.
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