Posted: 27 June 2022

Techex secures WestBridge as funding partner to support accelerated growth

Techex secures WestBridge as funding partner to support accelerated growth

WestBridge invests in cloud and video over IP specialist, Techex.

Techex is the UK’s leading broadcast design architect for live cloud and IP broadcast solutions.​ The company designs, commissions and supports live video transport, processing, redundancy and monitoring solutions leveraging own IP and deep relationships with the most innovative broadcast and media companies. ​

Since 1971, the Company has hunted out disruptive technologies and helped its customers gain a competitive edge. Techex’s value is underpinned by trusted partner status and long-term continuous development engagements with its strategic Tier-1+ broadcast and media customers.

The deal backs Managing Director, Richard Bailey, who has overseen the company’s growth alongside a highly experienced management team. All will remain actively involved and will be joined by non-executive Chair Mark Sutherland, and new interim Finance Director Dominic Ely.

The WestBridge deal team comprised Tim Whittard, James MacLeay, Rory Whitrow, Rebecca Sinclair, Valerie Kendall and Guy Davies.

MacLeay said:

“Richard and the whole team have developed Techex into a niche market leader and positioned it for significant potential further growth. He is passionate about staying involved in the business, which is why he opted for private equity in favour of a strategic trade buyer.”

“Together we have already identified several opportunities to accelerate this growth potential and will be implementing our tried and tested Value Creation Model to ensure these are maximised for the benefit of all stakeholders. Our investment will allow Techex to develop its existing management team, continue to grow talent across the team, expand geographically and build on the strong customer relationships it already enjoys.”

“We’d like to thank Tosca Debt Capital who provided the debt funding for the transaction, who were both pragmatic and commercial. We are looking forward to working them over the life of this investment.”

Bailey said:

“I speak for Camilla and our team when I say we are absolutely delighted to have secured this investment.  There is a significant market opportunity, and we are excited at the prospect of working with the WestBridge team to scale alongside our global customers as the technology we provide becomes critical to their operation." 

Whittard said:

“Techex has all the hallmarks of a WestBridge transaction. It is a leader in a growing niche market on a global stage, has delivered strong historic growth with even more exciting prospective growth to come in the future and has an ambitious management team that is keen to develop the significant opportunities the market presents.

Together with Mark and Dominic, we are delighted to be able to partner with Richard, Camilla and the whole Techex team and look forward to the exciting journey ahead.

Techex  is a perfect addition to the WestBridge II portfolio of companies and we are confident that it will be a strong contributor to our top 5% performing fund.”

Share This