Tue, 10 Oct 2017
NEWBURY tech firm Roc Technologies has secured investment worth a reported £10m from the Business Growth Fund (BGF) for the acquisition of Chelmsford-based City Change Management (CCM).
Founded in Newbury in 2013, Roc recorded organic growth of 90 per cent between 2016 and 2017, and with the backing of BGF, bosses are now eyeing global expansion.
The firm provides business and technology transformation services to multinational companies and public sector organisations, boasting clients such as supermarket giant Tesco, as well as major public sector organisations like the Ministry of Defence.
And having now secured access to funds to drive future investment, Roc co-founder and chief executive Matt Franklin said the aim was to increase the company’s footprint internationally as it takes on more work in the Far East, Middle East and the USA.
However, despite plans to expand its customer base further afield while also aiming to invest in offices elsewhere, Newbury-born Mr Franklin, said the IT firm was committed to keeping its HQ, currently located at offices in The Wharf, in Newbury.
“Newbury is fantastic,” he said.
“We are committed to staying here, it’s where we were founded.
“We’re looking for opportunities to create a flagship office space which we can use as a real centre for innovation, where we can incubate new ideas.”
In 2016, Roc was named the UK’s fastest-growing IT services provider in the Sunday Times Hiscox Tech Track 100.
Speaking about the acquisition of CCM, Mr Franklin said: “Our partnership with BGF provides access to their £2.5bn funding capability which will help us to execute future business development opportunities; the acquisition of CCM is part of that plan.”
Roc chief operating officer Steve Shirley said: “We are very excited to announce our investment from BGF and we are looking forward to growing the company, investing in our people and continuing to further enhance our already strong reputation for delivering excellent services to our combined customers.”