Westbridge buys out ISG for £10.5m

Westbridge buys out ISG for £10.5m

Westbridge Capital has completed a £10.5m secondary buyout of ISG Technology, allowing a successful exit for RJD Private Equity which originally backed a management buyout of the business in 2005.

ISG designs, installs and manages mission critical networking infrastructure solutions for blue chip organisations across the UK, including retailers, UK government, quick service restaurants (QSR) and major global ICT and telecommunications companies.  

The company is a recognised expert in large scale Wi-Fi installations which are the backbone of their clients’ internal systems, and are key to generating efficiencies and profit improvement for customers.

The company has built a reputation for delivering to some of the largest multiple site businesses in the UK.  Customers include some of the UK’s largest retail, grocery and QSR operations in the UK, many with over 1,000 sites.

ISG had turnover of £18.5m in the last financial year, is growing rapidly and employs 173 people across the UK and at its technical support centre in Sofia, Bulgaria.

Sandy Smart said: “Although ISG already has a very strong market position with a robust business model, loyal customer base and healthy recurring revenues, our investment will support further development of its sales and marketing programme and also expansion into new vertical markets.

“The management team is ably led by Mike Morrison and is technically well proven and very client-focussed.”

Mike Morrison, chief executive officer at ISG, said: “The WiFi connectivity market in the UK is forecast to show excellent growth over the next five years.  As well as commercial organisations increasingly using technology to drive down costs within their internal operations, customer facing organisations are using more in-store technology to improve the customer experience and drive sales, all of which presents great growth opportunities for us.

“We are particularly pleased to have backing from WestBridge Capital.  As well as their experience within the technology sector, they have a mature and understanding approach to investment.  We look forward to working in partnership with them to achieve our ambitious growth plans.”