CVC buys up share that Horizon Capital shelled out £40m for three years ago
The private equity firm that took a £40m stake in Oxfordshire consultant Ridge has sold it to a rival after three years.
London business Horizon Capital, which specialises in technology and professional services firms, took a share of Ridge in April 2023
Ridge at the time declined to say how much Horizon was getting for its money but senior partner Adrian O’Hickey said it was “significant”.
Now Horizon has sold its stake to Jersey-based CVC which has more than £100bn of private equity assets across industries including technology, retail and healthcare.
The deal with Horizon allowed Ridge to go on a buying spree with O’Hickey admitting at the time it would “enable investment in people and acquisitions”.
It has bought five firms since, the most recent being a deal for West Midlands firm Hub Transport Planning in May.
Ridge said: “Partnering with CVC will enable Ridge to continue investing in its proposition for clients and its people, as well as its capacity to take on larger and more complex work – driving continued organic growth and strategic M&A.”
The firm has doubled its workforce in the past three to more than 1,600 people across 16 offices with Ridge and Partners’ turnover jumping from £93m in 2022 to £135m two years later – the date of its last set of accounts filed at Companies House.
O’Hickey added: “CVC understands the model that got us here and brings the resources and reach to help us go further.”
No comments yet