BGF investment in our organisation
In February 2023, we signed a £5 million investment agreement with BGF, one of the UK's most active and dynamic investors of equity capital in growth economy companies. Through this partnership, BGF will become a minority shareholder in Socitm Advisory.
Building more resilient financial foundations for our business has been an important focus for us in recent months as a vital way to ensure our continued growth. BGF’s investment will provide the platform for the business to further expand its range of services and client base across local and central government and wider public services.
"We are delighted to welcome BGF as a long-term investment partner to support our vision of bringing inspiration to UK public services. For many of our customer organisations, technology-enabled modernisation is a necessity. This investment will support our aspiration to be their trusted advisor for delivering sustainable change, shaping future policy, and improving the lives of local citizens, and the environment.
Over the past seven years, we have re-invested £1.1m back into public services through our sister organisation, Socitm. Our future growth will unlock further investment in digital skills and leadership within the sector."
Tony Summers, Chief executive officer, Socitm Advisory
As part of the partnership, we welcome Mark Nunny of BGF to our Executive Board as Investment Director. Mark will bring extensive commercial knowledge and experience to our Board.
We are also delighted to appoint Paul Heywood as our new Non-Executive Chair. Paul brings significant experience of operating, growing, and scaling businesses within the data and technology sectors and, together with Mark, will bring invaluable commercial experience to our executive team.
Our present chair David Bryant will move to a new director role within our sister company, Socitm. There are no changes to other appointments within our executive leadership team.
