Fast growing digital product consultancy Apadmi has received a significant minority investment from private equity investor CBPE.
The undisclosed investment will support the Manchester-headquartered company’s continued global growth plans.
Apadmi acquired Dutch firm The Mobile Company in 2022, making it the largest team of independent mobile specialists across the Netherlands, UK and Europe.
Specialists in mobile, Apadmi were founded in 2009 and clients include the BBC, NHS, Dominos, Co-op, Charles Stanley and Sykes Cottages.
Apadmi has doubled in size in the last three years to its team of 260 offering a full range of digital product services including strategy, design, mobile development, back and front end development, as well as ongoing support, maintenance and optimisation.
Growing its specialism across retail, financial services, utilities, health and customer loyalty is a key part of the growth story.
Apadmi’s stated ambition is to enter five new markets by 2027, alongside continued organic growth in the UK.
CBPE’s investment will help the existing management team, led by founder and chief executive Garry Partington, capitalise on their rapid growth by expanding client relationships through more services and by supporting future acquisitions of adjacent businesses in the UK and EU.
Partington said: “There’s never been a better time to be in mobile. The products that we are creating today are already driving huge value for our clients.
“Their app customers are more loyal than non-app customers – they engage more frequently and spend more. What were once functional tools are now the highest performing channel in their business.”
Writing on LinkedIn, Partington said Apadmi had come a long way since he co-founded the business 15 years ago with Nick Black, Adam Fleming and Howard Simms.
“It’s been a hell of a ride,” he wrote. “Four mates who decided to build a business together. Amazingly, in 15 years, we have never fallen out, we have always stayed true to our values, and had a lot of fun along the way.
“We still go for beers together, and it usually ends up messy. Now onto the future. We have exciting plans and times ahead, a big thank you to all the team at Apadmi – you are amazing.”
Jolyon Latimer, who led the CBPE investment, said: “We are delighted to be backing Apadmi. The team are leaders in a digital product market that is set to double in the next four years.
“Garry and his partners have created a people-first culture that attracts and retains amazing talent, and the value that they are creating for clients in the UK has already established long-term relationships with innovative, blue-chip brands.
“The opportunity to expand in the UK and build on their European presence is huge. Apadmi is incredibly well placed to continue its growth and to scale into new services and territories and we’re excited to join them on their journey.”
Apadmi was advised by Clearwater and Weightmans; Deloitte; Graph; and RSM. CBPE was advised by Alantra; Addleshaw Goddard; PwC; Armstrong; and Howdens.