Sovereign-backed transformational technology provider Zenitech to acquire Autsoft Read more

  • Status: Current
  • Date: 2020
  • Sector:
    • Business & Technology Services
  • Location: UK & Europe
  • Buy & Build: 1

www.zenitech.co.uk/

Back to Investments

Zenitech

Zenitech is a high-growth transformational technology provider operating in the UK and Europe. 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 market.

Investment Background

Zenitech was founded in 2015 by a team of three individuals with deep industry experience and the desire to create a successful digital transformation company offering clients strategic business consulting and technology services. Over a period of three years, Sovereign got to know the team and saw the business grow rapidly. In 2020, Zenitech believed it was the right time to bring onboard an investment partner to further scale and develop their services. They chose Sovereign.

Value Creation

  • Recruited Gordon Wilson, as non-executive Chair. Gordon is CEO of Advanced, one of the UK’s largest providers of business software and services.
  • May 2022 - The acquisition of Autsoft (Subject to Hungarian Government approval.)

THE BUSINESS AT INVESTMENT

Zenitech provides complex 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.

In May 2022, Zenitech agreed to acquire Autsoft, a Hungarian-based provider of software and technology development services, subject to Hungarian Government approval. The acquisition of Autsoft will add c.150 people with complementary skills to Zenitech’s growing team in Hungary, bringing the total number of employees at Zenitech to over 520. (c.200 at the time of Sovereign’s original investment.) It also supports Zenitech’s strategy to expand into Hungary, having launched a technology centre in Miskolc in 2021.

Sovereign has backed 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 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.


Back to Investments

THE VENDORS' PERSPECTIVE

Ed: 'In Sovereign we have found a partner to support us to further scale and develop our services to help clients meet their own business goals and ambitions.’

Christopher: 'We are committed to maintaining an extremely high bar in both the 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.’

Edward Batrouni / Co-founder / Zenitech & Christopher Lacy-Hulbert / Co-founder / Zenitech