Beech Tree invests in BCN Group

Kenny Wastell
20 November 2018

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Beech Tree Private Equity has invested in UK-based IT company BCN Group.

Financial details of the transaction remain undisclosed, though Beech Tree is currently investing from its second private equity fund, a £115m vehicle that writes equity cheques of £10-40m.

Following the transaction, BCN will pursue an acquisitive growth strategy, invest in product development and look to expand its sales team.

As part of the deal, BCN has introduced former SysGroup chief financial officer Julian Llewellyn as its chief financial officer, and former Pulsant chief technology officer Matt Lovell as non-executive director.

Beech Tree investment director Adam Rudd and co-founder Andy Marsh will take a seat on the BCN board of directors.

Company
Founded in 2009 and headquartered in Heald Green, near Manchester, BCN is a provider of IT services including support, cybersecurity, data management, cloud migration and hardware sales and maintenance. Its clients include Turtle Wax, Robinsons Brewery and business communications company Vivio. BCN has an additional office in London.

People
Beech Tree Private Equity – Adam Rudd (investment director); Andy Marsh (co-founder, managing partner); Ben Cartwright (investment manager).
BCN Group – Simon Kelf (CEO).

Advisers
Equity – Dow Schofield Watts, Ed Brentnall, Nick Bolton (financial due diligence); DLA Piper, James Kerrigan, Christopher Wilson, Alexandra Holden (legal); KPMG, Steven Heath, David Lewin (tax); I2I HQ, Michael Finnigan (management due diligence); Vista Insurance Group, Peter Warburton, Gavin Ruben (insurance due diligence).
Company – Clearwater International, Carl Houghton, Michael Loudon, Shahbaz Qasim (corporate finance); Turner Parkinson, David Easdown, David Hayes (legal).