Zenitech, the digital transformation specialist, has reached an important milestone in its ambitious growth plans with a significant investment in the business from UK private equity mainstay Sovereign Capital Partners (Sovereign).
A successful multinational with more than 200 staff across offices in the UK, Romania and Lithuania, Zenitech has made huge strides since launch in 2015. The new investment will significantly scale the business in further future-proofing an ever-expanding blue-chip client base.
Zenitech has proven excellence in providing consulting, technology and product innovation services with a focus on building and scaling mission-critical products and systems for its clients. The company provides end-to-end digital transformation capabilities that support the build of new digital products, increase revenue and market share, streamline operations, and reduce costs.
Zenitech’s founders, Edward Batrouni, Christopher Lacy-Hulbert, and Csaba Suket, will continue to lead the business with Sovereign taking a significant minority stake in the organisation.
A ‘buy and build’ specialist, Sovereign was established in 2001 and has raised close to £1bn of funds since then. Zenitech is Sovereign’s latest technology platform investment, having tracked its progress for several years.
Edward Batrouni, co-founder of Zenitech commented: “We have come a long way since we set up our business just five years ago. This is an exciting market and we have achieved fast yet solid growth without compromise to the quality of our offering.
“We have the privilege of working with fantastic clients that value the services we provide. This was the right time for us to seek an investor and in Sovereign we believe we have found a partner that will help us to further scale and develop our services to help clients meet their own business goals and ambitions.”
Christopher Lacy-Hulbert, Zenitech co-founder said of the transaction: “This is a huge milestone for us and really helps to set the foundation for an ambitious programme of growth and expansion.
“We are committed to maintaining an extremely high bar in both the calibre and quality of expertise within our business. Investing in the right parts of our company will allow us to do that as we bring our offering to even larger, mission critical customers.”
Jonathan Thorne, Director, Sovereign said: ‘We are delighted to be backing this highly capable and entrepreneurial management team who we have got to know over the last three years. Zenitech operates in a high growth and fragmented market, with digital transformation becoming of ever-increasing strategic importance to businesses.
“Given the outstanding quality of Zenitech’s proposition we believe its success to date is set to continue into the future, and we look forward to supporting Christo, Ed and Csaba to deliver the company’s next stage of growth.”
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For further information on Zenitech, please contact Edward Batrouni: ed@zenitech.co.uk
Notes to editors:
We would like to thank the following for their work and advice on this transaction:
Results International (Corporate Finance) – Mark Williams, Richard Latner, Will Garbutt
Stevens & Bolton (Legal) – Oscar Horwich, James Waddell, Emma Leahy
Parisi Tax (Tax) – Lisa Stevenson
Armstrong (Commercial DD) – Mike Callow, Matt McNally
Grant Thornton (Financial DD) – Mo Merali, Jonathan Stubbings
