Alantra advises FSP and LDC on investment from CBPE and acquisition of Savanti
SECTORTechnology
ServiceM&A
London – Alantra, the global investment banking and asset management specialist, has advised the shareholders of FSP, including LDC, on an additional investment from private equity investor CBPE to support FSP’s continued expansion.
Reading-based FSP provides a range of consultancy services to large companies and public sector organisations spanning digital transformation, cloud engineering, data and artificial intelligence and cyber security. Its people-centric approach has seen the business win numerous awards in recognition of its outstanding workplace culture. It is currently ranked #1 Best Mid-Sized Company to Work For in the UK by Best Companies™.
LDC has reinvested alongside CBPE, having originally backed the company in 2020. Since then, FSP has more than doubled revenues and headcount by expanding its customer base and services.
The move has enabled FSP’s simultaneous acquisition of leading cyber security consultancy Savanti, strengthening its capabilities in cyber services to its growing portfolio of customers. The combined business is expected to generate revenues of around £30m in the current year and employ over 250 digital transformation and cyber specialists.
Savanti is a strategic cyber security consultancy with a team of almost 50 experts from its base in London. Their expertise spans cyber security strategy, security leadership, architecture design, identity and security risk assessments for enterprise clients. Both companies grew revenues by c.50% in their most recent trading year.
Following the investment, FSP will continue to invest in its suite of services as well as making further strategic acquisitions to accelerate its scale and customer base.
Savanti’s existing management team, led by CEO Richard Brinson, will become shareholders in the enlarged business, with Richard and his team taking a wider leadership role in the combined group.
Advising FSP and LDC demonstrates Alantra’s ongoing activity within the digital, data, cloud engineering and cybersecurity consultancy sector. This is the fourth deal this year following the sales of Automation Logic to Version 1, BreakFree Solutions to ThoughtFocus, and MML’s investment in MIcompany, and the fourteenth deal over the last 12 months.
The transaction was led by Alantra’s UK technology team, including Richard Sanders, James Chapman-Andrews, Simon Roberts, Jamie King and Nicolas Daborn. This was alongside Andrew Lynn and Scott Summers from the debt advisory team.
Richard Sanders, Partner at Alantra, commented, “FSP is a leading technology consultancy recognised for its excellence in digital transformation. It’s entrepreneurial management team has created a world-class workplace culture which, combined with LDC’s support, has underpinned FSP’s ability to achieve a consistently high rate of growth. It’s been a pleasure advising FSP and its shareholders and we look forward to seeing the business continue its strong momentum in partnership with CBPE and LDC.”
Simon Grosse, CEO of FSP, said: “This marks the start of another exciting chapter in our development. LDC has supported our journey over the past two years, helping us to successfully scale while maintaining our world class culture. Now, with CBPE’s backing, we’re able to accelerate our plan to deepen and broaden our capabilities for customers, starting with the acquisition of Savanti.”
He added: “We’ve long-admired what Richard and the team are building at Savanti and we see strong synergy to extend our combined services to new and existing customers. Both organisations have a commitment to delivering excellence and innovation, underpinned with our people-first approach.”
Lawrence Dean, Partner & Head of South, LDC, said: “Over the past two years, Simon and the team have built a world-class consultancy platform with deep expertise in digital transformation. With an expanded investor base, the team is now ideally placed to scale further and faster as demand for their services increases. Bringing a leading player in cyber security consultancy like Savanti into the group is just the start and we’re excited to continue supporting the business during this next phase.”
