GCP secures minority stake in Bridewell Consulting

The deal is the first investment for GCP's fifth fund, which was registered in Q3 last year, according to Unquote Data.

The vehicle is expected to follow the same strategy as its predecessor, which held a final close on £205m in 2017, surpassing its £200m target. That fund focused on hybrid debt and equity investments of £5-30m across a variety of sectors, targeting both buyout and expansion deals for UK-based lower-mid-market companies. The fund was 92% deployed as of the launch of Fund V, according to Unquote Data.

GCP said in a statement that its investment would support Bridewell in accelerating its end-to-end cybersecurity and managed security services, as well as help expand the company's presence in the UK and internationally, both organically and through acquisitions.

The GP added that the cybersecurity market is projected to reach $258bn by 2025, with "trends towards outsourced cyber-consulting and managed security services (worth $46.4bn alone) providing an exciting backdrop for growth".

Financials were not disclosed. GCP had not returned a request for comment at the time of publication.

Company
Bridewell is a cybersecurity service providing managed detection and response (MDR) services and other related consultancy.

Established in 2013, Bridewell has been posting 75% year-on-year revenue growth since 2018, according to the aforementioned statement. Headquartered in Reading, Berkshire, the company has 80 employees, with plans to double this figure by 2022.

People
Growth Capital Partners – Richard Shaw (partner); Ravi Monteiro (investment director); Heidi Farley, Liam Bennett (investment executives).

Advisers
Equity – Osborne Clarke, Alisdair Livingstone, Chris Yeo, James Taylor, Andrew Massey, Liam O'Connor (legal); Alantra, James Chapman-Andrews, Tom Stoten, Jamie Dickson, Milan Vashi (M&A); PwC, Jonathan Cooper, Peter Stephenson (financial due diligence, tax); Armstrong, Mike Callow, Peter Cookson, Caroline Powell, Roma Dixit (commercial due diligence); Catalysis, Mike Hicks (management due diligence).
Vendors – GCA Altium, Adrian Reed, Mark Smith, Gabrielle Worrall, Matthew Jenner (M&A).

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• Topics
• Expansion
• UK / Ireland
• Technology
• Support services
• Growth Capital Partners (aka Close Growth Capital)