Birmingham’s Beech Tree invests in Google Cloud company
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Ancoris, the pure-play Google Cloud experts, has secured a significant investment from Birmingham’s Beech Tree Private Equity (BTPE), a growth investor in tech and tech-enabled businesses.
The partnership will provide funds and expertise to accelerate the company’s growth, responding to growing customer demand for its skills and capabilities.
Founded by David McLeman, Ancoris is headquartered in Bracknell, Reading.
The investment will further Ancoris’ capabilities in Data and AI, infrastructure, and application modernisation, as well as fund a next generation cloud managed services capability.
Ancoris has extensive cloud expertise and is led by a senior team of industry experts including the recent appointment of Andre Azevedo (ex-Cloudreach) as COO.
He said “At Ancoris we believe that innovation is only important when it delivers value, and quickly. We encourage our customers to think big, but to start now. We want to build the most innovative Google Cloud partner, and to do so, we need to build on our incredible team with even more great talent. And that’s what we will accelerate with this partnership with BTPE” Paul Franks and Adam Rudd from Beech Tree Private Equity will also join the board as non-executive directors.
David McLeman, Ancoris CEO founder, said: “We are extremely pleased to have found the right partner in Beech Tree, they have significant knowledge of our sector and scaling businesses like Ancoris. We have experienced strong growth in the last few years and this investment will allow us to respond to customer demands even quicker. From the beginning, we felt a strong cultural alignment and, being a people business, that’s incredibly important to us.”
Paul Franks, managing partner of Beech Tree, added: “To succeed in an increasingly fast-moving market, companies must modernise the technology that underpins their business, and use data to improve their decision making process. Google Cloud is leading the way in data and modern infrastructure. Ancoris’s expertise, strong management team and depth of talent builds a winning combination which provides customers with tremendous business value. We were especially impressed with their 83% NPS score during our customer research, which further validated Ancoris as the right partner for us. The strong relationships they have with their customers is a testament to how Ancoris provides solutions and outcomes that really add value and change the way businesses operate.”
Ancoris was advised by Alantra Corporate Finance and Pinsent Masons.
The Alantra deal team comprised James Chapman-Andrews, Simon Roberts, Dave Bellis and Will Fenby.
James Chapman-Andrews, partner and UK head of technology at Alantra, said: “Ancoris has achieved significant growth as businesses increasingly seek support with digital transformation and cloud migration. Its strong management team and breadth of service offering across the Google stack have made it a fantastic and exciting client. Beech Tree has extensive experience in scaling businesses within the public cloud space and we have no doubt that with their support, Ancoris will continue to capitalise on Google’s innovative platform in this rapidly evolving market.”
Dow Schofield Watts Transaction Services provided financial due diligence for Beech Tree on the deal.