£2m deal will fund growth plans for business change consultancy Grayce
Investment company Literacy Capital has secured £2m in funding from Santander Corporate & Commercial to fund its investment in Grayce, a leading business change consultancy firm.
London-based Literacy Capital’s investment will facilitate the expansion of the senior management team, providing the resource for the business to continue the impressive rate of growth it has already achieved.
Founded in 2012, Grayce, which is headquartered in Manchester and has offices in Macclesfield and London, focuses on hiring high quality graduates, usually with one to two years of commercial experience, who are seeking a career in business change.
Graduates are trained by Grayce and placed as analysts to help deliver change projects which include digital and IT transformation, and regulatory change.
This provides the analysts with a breadth of experience at blue chip businesses and offers clients access to a talent pool with specialised skills.
Grayce has developed a strong client base, winning 21 new clients in the past 12 months including Arriva, DLA, Talk Talk, and British Business Bank.
The company currently employs 120 analysts and plans to increase this number substantially over the next few years.
Following the investment, the business will continue to be led by founder and chief executive, Peter Busby.
He will be supported by the appointment of candidates to the roles of sales director, chief financial officer and non-executive director, all of whom are well known to the Literacy team.
Peter Busby said: “The support from Santander Corporate & Commercial will be fundamental to our growth aspirations.
“We have set our sights high and would like to expand our analyst numbers significantly by 2020 and the funding from Santander has given us the opportunity to expand our team of experts.”
David Chell, relationship director at Santander Corporate & Commercial, said: “We are delighted to be able to support Peter and his team at Grayce Britain.
“The excellent services they provide have allowed them to develop an extensive clientele with a strong value-added proposition.
“We look forward to seeing the business move from strength to strength.”
