BP3 Global, a European and North American provider of intelligent automation services and solutions, has secured significant investment with Horizon Capital, a private equity investor specialising in technology services buy and build.
The new investment will accelerate BP3’s organic growth and includes significant follow-on funding to support the company’s ambition to complete multiple acquisitions in the growing and fragmented market.
BP3 has over 130 employees globally and plans further growth in the intelligent automation market with a particular focus on intelligent document processing, robotic process automation, and intelligent process automation. BP3 also plans to expand into new markets to provide clients around the world with more focus, more foresight, more follow-up approach to every engagement.
BP3 was founded by Lance Gibbs and Scott Francis, who will continue as CEO. Michael Boustridge who was previously CEO of Ciklum, a global digital transformation business, joins the BP3 Board as Chairman. Horizon Capital Director Tom Maizels and Managing Partner Simon Hitchcock complete the new BP3 board. Alongside Horizon Capitals investment, debt finance for the acquisition and a committed facility for acquisitions has been provided by specialist SME lender DunPort Capital Management.
BP3 is Horizon Capital’s third new platform investment in 2021 and takes their portfolio of technology service buy and build companies to 14. Horizon Capital’s investment in BP3 follows those in Modern Networks and The Marketing Practice (TMP) earlier in the year which have already completed four acquisitions on their buy and build journeys. Horizon has significant experience of delivering international growth in technology service businesses examples in their current portfolio include data engineering and software development provider Ascent, CX Digital transformation business Sabio and the digital operating platforms provider Sapphire Systems.
”“The market for Intelligent Automation could not be in greater demand than it is right now. Staffing shortages and supply chain disruptions have only further increased the pressure to bring automation into every business” said BP3 CEO, Scott Francis “With the support and investment from Horizon Capital, BP3 will have the opportunity to grow our business rapidly. Horizon is the perfect partner for our next phase; we knew we wanted to work with a firm that shared our obsession with client success and we believe we found that in Horizon Capital.”Scott FrancisBP3, CEO
”“We have spent several years researching the intelligent automation space and BP3 emerged as a clear leader for our investment thesis.” said Tom Maizels, Director at Horizon Capital. “BP3 has built a world class automation organization. We look forward to working closely with the BP3 Global management team to grow the organization through targeted acquisitions and organic expansion.”Tom MaizelsHorizon Capital, Partner