Market Leading Document Management Company Receives Investment
Digital storage specialist Storetec has received an investment from Bridges Fund Management via its Sustainable Growth Funds, which will assist in the company’s growth plans.
Storetec’s specialist equipment and software enables the full digitisation of a broad spectrum of physical records, creating a fully interactive and indexable digital copy of the original source documents, capitalising on increasing market demand for remote access to and the futureproofing of document libraries and archives. Leveraging a wealth of expertise and continued significant investment in state-of-the-art technology, Storetec has developed an exceptional and comprehensive range of complementary services that generate considerable cross-selling opportunities through a lucrative recurring revenue model and significant repeat business from an enviable blue-chip client base.
Neil Robson, the CEO of Storetec, instructed KBS Corporate Finance to seek investment into their business to accelerate business growth and performance.
The ultimate offer was produced by Bridges Fund Management via its Sustainable Growth Funds. Bridges Fund Management was founded in 2002 and has invested in over 160 companies over the years. The investment will promote further growth of Storetec enabling the company to support more clients across the UK and further afield.
Neil Robson, founder and CEO at Storetec, said: “We’re excited to be partnering with Bridges at this critical stage of the business’s growth journey. We wanted an investor who understood our market, shared our values, and had a strong track record of helping businesses like ours to harness their growth and impact potential. Bridges fitted the bill perfectly.”
Simon Braham, partner at Bridges, commented: “In the last few years, the digitisation trend has accelerated rapidly. Protecting sensitive corporate and personal information has to be a priority for every organisation. We identified Storetec as a best-in-class operator in this sector, and we believe it has a really compelling market opportunity. We’re looking forward to partnering with Neil and the team to help accelerate Storetec’s growth and establish it as an ESG champion in the sector – drawing on our extensive experience of impact-driven value creation.”
David Gardner, Director and Anne Pritchard, Corporate Finance Executive, at KBS Corporate Finance advised Storetec throughout the process. Legal advice was provided by TLT to Storetec.