FSP advises BGF on £11m AND Digital investment
Field Seymour Parkes has advised BGF on its £11m investment into AnDigital Limited, a fast growing technology consulting business in the UK.
BGF was set up in 2011 and has invested more than £2.1bn in over 300 companies, making it the most active investor in the UK.
Established in 2014, AND Digital employs over 600 people and generates an annual turnover of £42m. The organisation accelerates the digital capabilities of large enterprise clients, giving them the ability to build products and grow their internal digital capability. The investment will be used to open new offices (known as Clubs) across the UK and internationally, as well as scale-up key areas of the business.
Paramjit Uppal, Founder of AND Digital, said: “AND has been on a massive growth journey since our start-up days in 2014. We’ve built a truly remarkable company, based on a unique club model, which has accelerated our clients’ digital capabilities and helped to grow tech talent throughout the UK. With confidence in our model and strong demand for our services, we’ve set an even bigger goal for ourselves: to take what we have built and now make a global impact – that’s our BHAG, or ‘big hairy audacious goal’, for 2025.The growth funding from BGF provides the financial resources to really go for our BHAG. With it, we can make essential investments that will fuel our growth, with the freedom to challenge more traditional ways and assumptions about how companies scale and grow. That allows us to focus on building a company that really does stand out – in what it believes, how it works and how it grows. BGF is a perfect partner for us and, throughout our discussions, has shown its deep belief in our business with a mindset that allows us to now get on with it. I’m excited for the future, and can already see our BHAG over the near horizon”
Alex Snodgrass, an investor at BGF, who will join the board of AND Digital, said: “AND Digital is a fantastic business, with a truly innovative and scalable approach to delivering technology services of the highest quality. Paramjit and the team have built an excellent track record in the market through working with some of the UK’s biggest enterprises. We’re delighted to be joining the business at such an exciting time, supporting the next stage of its growth journey to further expand across the UK and build an international offering.”
He added: “As always, we enjoyed working with Penelope and the rest of the FSP team on this transaction.”
The team at Field Seymour Parkes advising BGF was led by Penelope Garden (partner, corporate) with assistance from Sian Ralph (solicitor, tax), Jackie Denham (senior associate, employment), Christian Meredith (solicitor, employment), Alex Illingworth (senior associate, banking and finance) and Charlotte Burroughs (solicitor, commercial contracts).