Cloud and data specialist secures investment
Growth investor FPE Capital (FPE) has made an investment in cloud and data migration specialist Egress.
Leamington Spa-based Egress specialises in delivering large and highly complex cloud migration projects. Its clients include a range of blue-chip public sector and private sector organisations, including the NHS, Birmingham County Council, IBM, Fujitsu, University of Birmingham, DHL and Balfour Beatty.
The FRP Corporate Finance Debt Advisory team – led by partner, Simon Sherliker, with support from director, Jo Power and senior managers, Julie Lada and Vanessa Marafioti – arranged for FPE Capital to secure a debt raise through Triple Point to support the deal.
FPE’s investment marks the start of a new chapter of continued growth for Egress. FPE will support the management team, led by CEO Joe Rooke, in expanding the executive team and accelerating growth within the expanding UK markets.
FRP Corporate Finance has previously supported FPE on its investments in software and IT services businesses, including media collaboration software developer Sohonet, ERP specialist The NAV People, and business applications and cloud services platform Codestone.
Llewellyn John, partner at FPE Capital, said: “This investment in Egress represents the first deal in our newly raised FPE Fund III and builds on our track record of success in software-focused services businesses. We’re focused on helping high-quality businesses grow sustainably. With its focus on innovation and a talented and ambitious leadership team, Egress stands to benefit from significant tailwinds in its market going forward.
“We’ve worked with FRP’s Corporate Finance team for many years now because we know we can rely on their experience and advice.”
Simon Sherliker, partner at FRP Corporate Finance, said: “Egress has found an optimal partner in FPE. Through their investment and strategic support, the talented management team will be able to unlock new market opportunities, driving growth to higher levels than those already delivered.”
