Finance Wales backs QPC with £2.3m

Carmen Reichman
29 May 2012

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Finance Wales has invested ТЃ2.3m in Welsh information technology company QPC.

The business has developed a management information gateway technology that it plans to take global following the investment.

Finance Wales, which usually invests up to £2m per round, said it was keen to ensure that QPC's growth plans were adequately funded. "Finance Wales has a number of individual funds from which it can structure such investments," the GP told unquote".

Stakes remain undisclosed but apart from QPC CEO and majority shareholder Phil Smith, Finance Wales is the sole investor in the business.

Finance Wales' £150m fund is backed by the Welsh government and the European Union through its Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative.

Company
QPC is headquartered in Mold, where it builds management systems for big businesses. The company focuses on workforce optimisation, integration, insight and capability in order to help businesses reduce costs and increase revenues, according to the GP. QPC's flagship proprietary product is Management Information Gateway (MIG) which was launched in 2009.

QPC's customers include Vodafone, Barclays and Bell Canada. The company also has regional offices across Europe, Asia and America to provide local support.

QPC was founded by Phil Smith in 1993 and has 51 staff. It generates a £6.4m turnover.

People
Chris Griffiths is deputy fund manager at Finance Wales.

Advisers
Equity – Geldards (Legal).
Company – Gambit Corporate Finance, Simon Williams (Corporate finance); Laytons (Legal).