BGF has invested £6m in Amdaris, a software developer and digital transformation specialist, to support its organic and acquisitive growth strategy.
Headquartered in Bristol, Amdaris is one of the UK’s fastest-growing technology companies, employing more than 200 developers averaging 40% revenue growth per annum over the past three years to £7.2m. The firm’s key sectors of operation include real estate, recruitment, education, financial services and energy.
Amdaris’ team in Bristol is supported by centres in Romania, Moldova and Dubai, providing customers with nearshore services through a company-wide collaborative approach to software development. The company provides services across digital transformation, cloud migration, technology integration and more.
Amdaris has grown organically under the leadership of co-founders, Vlad Nanu and Andy Rogers, and now plans to embark on a significant growth journey. This will include exploring strategic acquisition opportunities with the support of BGF’s financial backing and its growth and M&A experience in the IT software and services industry.
As part of the investment, BGF’s Paul Brennan has been appointed as Non-Executive Chairman. Paul has more than 20 years’ experience working with PE-backed businesses and has significant M&A experience, following a corporate career that began at IBM.
Andy Rogers, co-founder of Amdaris said: “This investment marks the beginning of what we are confident will be a new phase of growth. The Amdaris team has huge ambition and potential to scale-up, having firmly established a quality business and an increasingly recognised brand.”
Vlad Nanu, co-founder of Amdaris said: “We can think of no better investor to embark on the next stage of the journey with. BGF’s experience of working with like-minded technology entrepreneurs and helping them to navigate through periods of high growth, coupled with their minority and non-controlling approach is a great fit for the business.”
The deal was led for BGF by Alex Garfitt, James Skade and Elliot Vickerstaff.