Private equity backing for employee engagement consultancy
York-based employee engagement consultancy, scarlettabbott, has secured investment from LDC, the private equity arm of Lloyds Banking Group, which supports growing medium-sized businesses.
It comes after LDC met with the consultancy’s management team to understand how it can further support their growth and ambitions for the future.
Scarlettabbott managing director Jeremy Petty will move into the role of CEO, with the consultancy’s co-founders Rachel Thornton and Jonathan Abbott moving to non-executive positions on the Board.
Petty said: “This is a hugely exciting time for scarlettabbott. We have seen significant growth in recent years through our focus on creating a better world of work for our colleagues, our clients and the industry as a whole.
“The partnership with LDC represents a great opportunity to bring in not only significant investment to our business, but also vast experience and expertise.
“This puts us in a unique position to continue to expand our team and deepen the partnerships we have with our
global clients further in the coming years by offering a wider range of services.”
LDC investment director, Lee Donaldson, also joins the board, alongside industry heavyweight Euan Jarvie, former UK & Ireland CEO of multinational media and digital marketing communications company Dentsu International, who will take a role as non-executive chairman.
Jarvie said: “The opportunity for the further development and growth of scarlettabbott is extremely clear and exciting.
“Its offering is more relevant than ever, with global businesses’ increasing need for improved internal communications and more sophisticated employee engagement programmes. I am truly excited to be part of the next phase of their journey”.
The investment comes at a good time for scarlettabbott, following a period of substantial growth for the firrm across clients and colleagues.
The consultancy has recorded a compound annual growth rate of 20%, a significant increase in headcount and a portfolio of major global clients including Sony Interactive Entertainment, Booking.com, EY and Chivas Brothers.