Tech services providers PMC has obtained fresh backing from BGF. The minority capital investment was secured with support from advisors at FRP Corporate Finance.
Richard Lowe, CEO of PMC, commented, “We sought a partner that really understood our approach to talent-driven transformation and valued our culture, deep domain knowledge, customer-first mindset and global delivery ambition. The BGF team is fully supportive of and aligned to the incredible opportunity that the rapidly changing commerce technology landscape provides us.”
Founded in 2001, PMC provides consulting, professional services, digital engineering and managed services to over 120 retail, commerce and technology customers across 24 countries. With 500 people across its offices in the UK and India, the firm has built a customer base including major brands such as WHSmith, National Express, Primark, Crew Clothing and World Duty Free.
With the new backing from UK capital investor BGF, PMC will work to expand its portfolio of digital engineering and managed services globally. This includes creating a new global centre of excellence in Vadodara, India, which will give PMC the capacity to double the size of its global workforce.
Founded by Barclays in 2011 as the Business Growth Fund, BGF is the UK’s most active investment company, providing growth capital for small and medium-sized enterprises in the UK and Ireland. It specialises in providing long-term minority investment support.
A team from FRP Corporate Finance was appointed by PMC as lead advisers on the deal. Led by partner James Mines and supported by senior managers Chris Haidar and Patrick Starrett, the team supported at all stages of the deal, which included supporting the team through negotiations.
PMC CEO Lowe thanked the team for their support in completing the deal, noting it was “second to none” and allowed his firm to secure investment from “a partner that will really help us take our business to the next level.”
James Mines, partner at FRP Corporate Finance, added, “We are delighted to have worked with PMC to secure this investment. It’s a team and business we’ve known for a longtime, and it’s been great to see it thrive in recent years. In BGF it has an investment partner with the resources and expertise to help the business carry out its ambitious plans to grow its global offering further, making it an exciting time for all those involved.”
FRP Corporate Finance is part of FRP Advisory. The parent firm boasts more than 800 employees, including 108 partners, making it is one of the UK’s largest independent business advisory firms specialising in corporate restructuring, corporate finance, forensic services, financial advisory and debt advisory.