BGF, which invests in growing businesses in the UK and Ireland, has exited its minority stake in Chippenham-based Vysiion Group, a communications infrastructure and outsourced IT service provider. The business has been acquired by Exponential-e, a London-based cloud, network and unified communications company.
BGF has backed the Wiltshire-based Vysiion since 2015, following a £4 million investment. During this time, revenue and EBITDA have more than doubled, and the exit has delivered a strong return for all shareholders.
Founded by serial entrepreneur Bruce Brain, Vysiion Group was set up to create an IT services provider that could take advantage of the large and rapidly growing Public and Private sector market for infrastructure and outsourced IT space.
James Austin, an investor at BGF who will step down from the board of Vysiion Group, said: “In Vysiion Group we found a differentiated mid-market player with deep expertise in outsourced cloud services. BGF has delivered a money multiple of c.3x and a strong return for all shareholders. We supported Bruce and team in their first external acquisition creating a group with unique capabilities. Our patient and flexible approach has helped to achieve another milestone in Vysiion’s journey, and it goes to a great home.”
Bruce Brain, Chair of Vysiion Group, said: “The investment and support from BGF over the last 5 years has been instrumental in the development of Vysiion, and today’s acquisition by Exponential-e will see the business well placed to further build upon its strategy of utilising its strong reputation within the Utilities market of delivering and supporting Critical National Infrastructure (CNI). I’m very proud of the achievements of this team and I know they will go from strength to strength.”
The deal was led for BGF by Fiona Gibson and James Austin.