Reading-based cyber security specialist Bridewell Consulting has become the latest to receive backing from a private equity player.
The firm has attracted a multimillion-pound investment from Growth Capital Partners (GCP), with the private equity firm taking a minority stake in the business.
There has been a flurry of investments from various private equity players in the first few months of 2021 as investors look to get behind a buoyant tech sector.
Bridewell is currently working to a five-year plan that included getting private equity involved. It will use the funds to invest in its UK operation and add more muscle to its ambitions to grow across Europe, North America and Asia.
There are also plans to expand its managed detection and response (MDR) service and its 24x7 security operations centre (SOC). Other ambitions include doubling the current 80 employees by 2022.
Earlier this year, Bridewell signalled its determination to grow its services revenues with the appointment of Martin Riley to its board as director of managed security services.
“Bridewell has been on a tremendous growth journey over the past eight years,” said Bridewell Consulting’s co-CEO, Anthony Young. “We are now one of the UK’s largest independent providers of end-to-end cyber security services and have created a company that staff are proud to work for and customers are proud to work with.
Anthony Young, Bridewell Consulting
“As we enter our next stage of growth, it’s critical we retain our culture and service excellence, which is exactly what the investment will enable us to do,” he added.
His co-CEO, Scott Nicholson, added that it would now be in a position to add more depth to its services and offerings. “The relationship with Growth Capital Partners will enable us to scale effectively and continue to deliver enterprise cyber security services and tangible business value to our clients,” he said. “GCP has a long-standing successful track record of supporting fast-growth technology services business.”
Richard Shaw, partner at GCP, said the cyber security market was a strong and growing area to get involved in. “The requirement for cyber security services is set for continued fast growth, with the risks and ever-changing threat landscape becoming an increasing Board level priority,” he said.
“Bridewell’s relentless focus on delivering expert solutions as a trusted advisor to its clients, its extensive accreditations, investment in people and proactive managed security services approach, means the business is ideally placed to continue its fast growth trajectory both in the UK and overseas,” added Shaw.