BGF backs consultancy firm with £6m investment

BGF has invested £6.25m in an energy and water sector consultancy firm, to support the continued growth of the business.

Warwick-based Skewb, a provider of consultancy, digital transformation services and products to the energy and water sectors, hopes to expand its suite of products and services to meet the demands of an expanding customer base.

The consultancy has seen significant financial momentum to date, growing revenue almost fourfold over the last three years. Skewb works alongside a large number of UK utilities and engineering partners and employs 170 people, or ‘Skewbers’ as they’re known, from its headquarters in Warwick.

The business, which was founded by husband and wife team Shashi and Indu Seshadri in 2018, will have BGF investor Nick Holder joining as an independent non-executive chair through BGF’s Talent Network – one of the largest groups of board-level non-executives in the UK and Ireland.

The deal was led by Nick Holder, David Bellis and Kyle Long – investors in BGF’s Midlands team.

Skewb Co-founder and CEO Shashi Seshadri said: “In a short space of time we have exceeded our growth ambitions. From a standing start, we have consistently enabled multi-million pound efficiencies for our utility customers. Our focus has always been on doing the right thing – always delivering for our customers and continually investing in our Skewbers.

“These are the core ingredients to execute a compelling growth strategy. Partnering with an experienced, long-term minority investor like BGF – one that is prepared to take a patient approach and support us over time as we grow – is an important stage in our growth cycle.”

BGF investor Nick Holder, who will join the Skewb board said: “Skewb is helping to drive business efficiencies across the water and energy sector in an innovative and transformative way, translating the vast experience of the team to deliver exceptional results for its clients.

“We look forward to supporting Skewb as it continues on its impressive growth journey, enabling it to seize opportunities and put its stamp on an industry calling out for a dynamic and exciting business such as this.”

Advisors on the deal were: Clearwater (corporate finance), Freeths (legals), Fairgrove (commercial due diligence), Browne Jacobson (BGF legals) and Claritas (BGF tax).