BGF injects $7.2m into Adestra

Coming off the back of a reported annual double-digit revenue growth for more than a decade, UK-based Adestra had announced the opening of its US operations in Dallas and New York earlier this year.

The company stated that the availability of fresh capital from BGF has further bolstered its ambitions to expand the size of its US-based team and improve the available infrastructure.

As part of the deal, BGF investor James Austin will join the board of Adestra.

BGF scored another expansion deal just days ago with an investment in Grace Cole, an English brand for bath, body and beauty products. To date, BGF has invested close to £650m from its £2.5bn investment pool, including more than £130m in the UK's technology, media and telecommunications sector.

Company
Founded in 2004, Adestra provides one-to-one email and lifecycle marketing services. It serves corporate clients such as UBM, FranklinCovey and Oxfam, among others. The company is based in Oxford, England.

People
Business Growth Fund – James Austin, Sarah Ledwidge, Dan Tapson, Erin Hallock.

Advisers
Company – Livingstone (Corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Support services
• BGF (Business Growth Fund)