Sovereign backs the management team of digital transformation provider Zenitech
Sovereign Capital Partners, the UK private equity Buy & Build specialist, is delighted to announce that it has completed a significant investment in Zenitech, a successful strategic business consulting and technology services provider. Sovereign has partnered with Zenitech’s management team to significantly scale the business to meet the increasing demand for its services in this rapidly growing UK and international market.
Zenitech provides consulting, technology and product innovation services with a focus on building and scaling mission-critical products and systems for blue-chip clients. The company empowers its clients to future proof their businesses by providing end-to-end digital transformation capabilities to create new digital products, increase revenue and market share, streamline operations and reduce costs.
Established in 2015, the business has c.200 employees across three offices in the UK, Romania and Lithuania. The successful combination of Zenitech’s high-quality strategic consultancy and technical software development capabilities is reflected in its rapidly growing and deeply embedded multi-year client relationships.
Sovereign is backing the founders of the business Christopher Lacy-Hulbert, formerly Director of Engineering at Yahoo, Edward Batrouni, previously Senior Head of Technology Outsourcing at Betfair and Associate Director at CapGemini, and Csaba Suket, formerly Director of Technology at Betfair. The team have a deep level of industry experience and a proven track record of delivering their strategic plans.
Jonathan Thorne, Director, Sovereign Capital Partners said: ‘We are delighted to be backing this highly capable and entrepreneurial management team who we have got to know over the last three years. Zenitech operates in a high growth and fragmented market, with digital transformation becoming of ever-increasing strategic importance to businesses. Given the outstanding quality of Zenitech’s proposition we believe its success to date is set to continue into the future, and we look forward to supporting Christo, Ed and Csaba to deliver the company’s next stage of growth.’
Edward Batrouni, co-founder of Zenitech commented: ‘We have come a long way since we set up our business just five years ago. This is an exciting market and we have achieved fast yet solid growth without compromise to the quality of our offering. We have the privilege of working with fantastic clients that value the services we provide. This was the right time for us to seek an investor and in Sovereign we believe we have found a partner that will help us to further scale and develop our services to help clients meet their own business goals and ambitions.’
Christopher Lacy-Hulbert, Zenitech co-founder said of the transaction: ‘This is a huge milestone for us and really helps to set the foundation for an ambitious programme of growth and expansion. We are committed to maintaining an extremely high bar in both calibre and quality of expertise within our business. Investing in the right parts of our company will allow us to do that as we bring our offering to even larger, mission critical customers.’