Roc Technologies, the award-winning technology services provider which counts the likes of Tesco, Nestle and Burberry among its clients, has expanded with an acquisition after securing an investment from Business Growth Fund (BGF).
BGF has taken a minority shareholding in the Newbury-based company, having invested an undisclosed sum.
The investment will support Roc’s long-term growth strategy as well as its acquisition of City Change Management (CCM), which provides project management services for complex business and IT transformation projects.
Founded in 2013 by chief executive Matt Franklin and COO Steve Shirley, Roc provides business and technology transformation services to multinational companies and public sector organisations.
The business achieved organic growth of more than 90 percent between 2016 and 2017.
“Roc has experienced significant growth, and our strategy is to continue to increase the scale of the business whilst enhancing the services and value we provide to customers,” Matt Franklin said.
“The decision to bring in an external equity investor as part of this process wasn’t taken lightly. However, BGF’s long-term, non-controlling approach was a good fit with our own ambitions.
“The BGF team has a growing reputation in the tech industry and in particular with some of our delivery partners. We have got to know them well throughout the investment process, and are looking forward to partnering with them.”
Steve Shirley, COO at Roc, added: “The recent funding from BGF and the acquisition strengthens Roc’s ability to deliver additional services to its client base. The combined organisation will also allow Roc to continue to invest in strengthening its managed service offerings and gives us additional strength in depth and the ability to move into new areas of capabilities.
“Furthermore, Roc will be investing in a London office in conjunction with CCM which will enable us to continue to develop our London-based clients.”
Tim Bretman and Danny Hargest, founders of Chelmsford-based CCM, will become shareholders in the Roc business and join the management team as part of the undisclosed deal.
BGF’s James Austin will join the board of Roc Technologies.