Zenitech
Zenitech is a high-growth transformational technology provider operating in the UK and Europe.
Sector
Business and technology services
Status
Current
Investment Date
2020
Location
UK and Europe
Buy & Build
1
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.
The story so far
Recruited Gordon Wilson as Non-Executive Chair. Gordon is also Chair of Advanced, one of the UK’s largest providers of business software and services, and was CEO from 2015 to 2023Appointed experienced CFO and CPO to support the scaling of the businessExpanded into Hungary and added c.150 people and new skills with the acquisition of Autsoft, a Hungarian-based provider of software and technology development servicesRecruited Sam Kingston as a CEO to help the founders with a succession plan and drive the next phase of the journeyZenitech provides advanced software development and engineering 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. The acquisition of Autsoft added c.150 people with complementary skills to Zenitech’s growing team in Hungary, bringing the total number of employees at Zenitech to over 520, up from around 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, and Edward Batrouni, previously Senior Head of Technology Outsourcing at Betfair. The team have a deep level of industry experience and a proven track record of delivering their strategic plans.
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.
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."
