Tuesday 03 October 2017: Roc Technologies, one of the UK’s fastest growing companies for IT services, has secured an investment from BGF (Business Growth Fund) to support its longer-term growth strategy to build a global transformation services company.
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. The investment by BGF will see Roc further enhance its organic growth and transformation capabilities with the acquisition of City Change Management (CCM).
Chelmsford-headquartered CCM provides project management services for complex business and IT transformation projects, with a focus on commercial, public, legal and higher education sectors. The company recently helped Gatwick Airport deliver its ‘Airline Moves Programme’ and worked with an international, magic circle law firm to replace its entire global intranet service. The addition of CCM will add further scale to the Roc business, and provide an extended service offering to customers of both businesses. CCM’s founders Tim Bretman and Danny Hargest will become shareholders in the business and join Roc’s management team.
In addition to the CCM acquisition, Roc will use BGF’s funding to support its growth strategy. The company will continue to invest in its own operations and infrastructure and explore potential future acquisitions.
BGF is the UK’s most active investor in small and mid-sized businesses in the UK and has invested in two of Roc’s delivery partners, UKCloud and Vysiion. Roc featured in second place in The Sunday Times Tech Track 100 2016 and was named in the LSE 1,000 Companies to Inspire Britain in 2017. As part of the partnership BGF will take a minority shareholding in the business.
The investment into Roc was led by BGF’s James Austin, Alex Snodgrass, Daniel Tapson and Jack Teasdale, who work across BGF’s offices in Bristol and Reading.
Roc Chief Executive Matt Franklin said: “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. Our partnership with BGF provides access to their £2.5bn funding capability which will help us to execute future business development opportunities, the addition of CCM is part of that plan. Having successfully delivered a number of high-profile, complex transformation projects, CCM has developed a strong industry reputation. We have known CCM for over 10 years and have collaborated on some major customer initiatives, the formalisation of our relationship will enable us to bring powerful joint services to the market.
“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.”
CCM Director Tim Bretman stated: “This is an exciting development in the CCM story. We are now able to offer a broader range of services to our clients and diverse career opportunities to our staff. We are delighted to join The Roc Group.”
Roc COO Steve Shirley 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.
“We are very excited to announce our investment from BGF and we are looking forward to growing the company, investing in our people and continuing to further enhance our already strong reputation for delivering excellent services to our combined customers.”
BGF’s James Austin, who will join the board of Roc Technologies said: “Roc has experienced very significant and rapid growth during the past four years. Matt and Steve’s ability to drive and manage that growth is testament to their leadership, expertise and market knowledge. We are delighted to be backing the company with funding, connections and support.”
About BGF: BGF is the most active and influential investor in small and mid-sized businesses in the UK. An established and independent company, it has £2.5bn to support a range of growing companies – early stage, growth stage and quoted – across every region and sector of the economy.
BGF makes long-term equity capital investments in return for a minority stake in the companies in backs. Initial investments are typically between £2-£10m and BGF can provide significant follow-on funding. BGF is a minority, non-controlling equity partner with a patient outlook, based on shared long-term goals with the management teams it backs. With a 150+ strong team, BGF offers an unparalleled international network of business leaders, sector experts, board-level non-executives and provides in-house support with Chair and senior executive selection and appointments.
BGF offers flexible investment structures with a mix of equity and unsecured debt. BGF can provide equity release for existing shareholders, and funding to support acquisitive and organic growth strategies.
About Roc Technologies: Roc is an award-winning provider of transformation solutions and managed services. Roc enables large organisations to successfully transform through its unique Process, Projects and Technology capabilities.
From process discovery and optimisation to the provision of Cloud services, Networks, Cyber Security, and Unified Communications Roc helps customers to deliver on their digital transformation objectives.
About CCM: CCM is a top tier Project Management Consultancy offering a range of expert, flexible project management services, tailored to meet strategic business and IT systems transformation project requirements, underpinned by the company’s proven ATLAS best practice methodology and extensive industry knowledge bank.
For more information please contact:
Marketing Manager - Roc Technologies
+44 (0) 1635 581188