Growth capital investor BGF is backing hybrid cloud and IT managed services provider Celerity with a £15 million investment to drive further growth.
Celerity, headquartered in Preston, is an expert in digital transformation and high value hybrid cloud and IT managed services, including cyber security, data recovery and data visualisation.
BGF’s funding will enable founder and CEO Chris Roche and COO Craig Aston to continue to scale Celerity’s managed service proposition and super-charge its growth.
As part of the deal, BGF’s Harry Jones will join the Celerity board, along with non-executive chair (NXC) Phil Male, who has acted as NXC for other BGF portfolio companies, including Virtual1, ROI and Miss Group.
Harry Jones said: “We have closely tracked Celerity’s transition from a reseller and integrator of infrastructure to a highly successful IT managed services provider. Its impressive growth has accelerated rapidly through major contract wins,
with managed service revenues more than quadrupling in the last 12 months. The management team’s track record of delivering growth, and the vast potential that exists within this market, made the company an extremely attractive investment proposition.”
Since it was set up in 2011, BGF has invested £2.5bn in 400 growing companies, including £538 million in tech businesses. In 2021 alone, it has invested more than £100 million in tech businesses and made seven successful exits in the sector.
Part of BGF’s investment in Celerity comes from its recently launched UK Enterprise Fund (UKEF) established alongside Coutts, the private banking arm of NatWest. www.bgf.co.uk