Leeds tech firm BigChange has been sold by its US private equity backer to a global provider of field service management solutions.
Great Hill Partners invested £75 million into BigChange, a field service management software company founded by Martin Port in 2013, in 2021 for a majority stake which valued the firm at £100m.
BigChange has since undergone a period of rapid growth and transformation, including growing revenue by 2.5x and expanding its customer base to over 2,200, while it moved into a new specifically provisioned HQ in Leeds last year. It now employs 230 people.
This year the firm has won over 290 new customers, signed over £17m worth of new contracts while launching new products, including AI-enabled dashcams and Data as a Service.
The deal with Simpro Group, which serves over 22,000 businesses and 400,000 users worldwide and employs more than 600 people, sees Boston-based Great Hill retain a minority stake in the company.
“Great Hill has been instrumental in positioning BigChange at the forefront of mobile workforce management space as we have been able to leverage the firm’s deep industry knowledge, operational expertise and global relationships,” said BigChange CEO Richard Warley.
“This transaction is a testament to our years of collaboration with Great Hill and it reflects the dedication and hard work of the entire BigChange team.”
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Great Hill managing director Drew Loucks added: “We have been proud to support BigChange over the past three years, working closely with the entire management team to help transform the company into a top choice among field services management professionals in the UK.
“We look forward to the company’s next chapter with Simpro Group and we’re confident BigChange will continue accelerating growth through enhanced offerings, increased scale and even greater resources.”
Port said of the deal: “BigChange was founded on the idea of creating an all-in-one job management software that would modernise mobile workforce management and allow companies to operate more efficiently. Our partnership with Great Hill helped us achieve this vision.”
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