- QX, one of the world's fastest-growing business process
management companies, has reached a deal for Long Ridge to become a
significant investment partner.
- The growth investment of £100 million+ investment comes on the
heels of exceptional growth at QX. Long Ridge's investment will
help support further platform development and global
expansion.
- QX took a deliberate approach to finding the right partner to
support the next phase and is enthusiastic in their selection of
Long Ridge.
LONDON, July 10,
2024 /PRNewswire/ -- QX Global Group ("QX") is a
leading provider of business process management ("BPM") services.
QX has built a uniquely integrated platform that leverages its BPM
expertise along with consulting services and automation
technologies (including artificial intelligence) to unlock value
for its customers. As QX seeks to further expand its platform
capabilities and global growth footprint, it is pleased to announce
that it has secured a growth investment of £100 million+ from Long
Ridge Equity Partners ("Long Ridge").
QX specialises in business & digital transformation, BPM and
consulting services within the accounting, recruitment, real
estate, manufacturing, public sector, higher education, healthcare,
consumer packaged goods, retail, and utilities and energy sectors.
Based on its unique capabilities and specialized approach, the
company saw revenue grow by approximately 30% over the past twelve
months, and is rapidly emerging as a global leader in the
space.
QX spent over a year considering the attributes of a potential
investment partner and met a number of potential investment firms
as part of the process. Ultimately, the QX leadership team
hand-picked Long Ridge because of their experience in the
tech-enabled services industry and excellent track-record
partnering with fast-growing, high potential businesses like
QX.
"The Long Ridge team brings a wealth of senior experience in
the BPM and consulting sectors. I am so proud of everything
that has been achieved at QX so far, and I couldn't have asked for
a more impressive and experienced investment partner to support the
next stage of the QX growth story."
Chris Robinson, Founder of QX
Global Group
The partnership brings together one of the fastest-growing
global BPM specialists with a recognised US-based growth equity
firm with a stellar history of helping build some of the world's
leading companies in the technology and tech-enabled services
sectors.
"We are very excited to welcome QX to the Long Ridge
portfolio and have very high hopes of a truly rewarding growth
partnership with Pom and his team over the coming years."
Angad Singh and Jim Brown, Long Ridge
Whilst the majority of the QX Board and management team will
remain in their roles and reinvest in the company, the following
key changes will come about as a result of the deal:
Following the investment, Founder and Executive
Chairman Chris Robinson
will step down from the QX Board after leading the business for the
last 20 years.
Abid Neemuchwala will
join the company as Chairman. Abid is a recognized leader in the
BPM industry, and will work closely with the QX team as the company
executes on its growth strategy. He is an advisor on Long
Ridge's Executive Council and previously held the role of CEO at
Wipro.
Frank Robinson, QX Global
Group's CEO since 2018, will step into the role of Board Executive
Director and retain a significant investment in QX Global
Group.
Pom Chakravarti will assume the role of Group
CEO. Pom has been with QX for nearly 20 years and has
extensive experience as a leader across all the business's main
divisions, and previously served as the company's Chief Strategy
Officer.
QX received corporate finance advice from Corbett Keeling, legal
advice from Dechert, and financial and commercial vendor due
diligence, and tax advice from Ernst & Young. Long Ridge
received legal advice from Travers Smith and Choate, accounting and
tax advice from KPMG, and debt financing from HSBC.
About QX Global Group
QX was founded in the UK in 2003 by Chris Robinson and a small team of 5 Indian
accountants based in Ahmedabad. Over the last 20 years, QX has put
itself at the heart of this dynamic sector and had a vision to
enable transformation for its clients through end-to-end enterprise
solutions. QX has grown to a team of over 3,000 staff spread across
operations in 18 countries, including five delivery centres in
India and one in Mexico.
About Long Ridge Equity Partners
Founded in 2007, Long Ridge is a US-based growth equity firm
focused on investing in the tech-enabled services, enterprise
software and financial technology industries. Over their 17-year
history, they have had the opportunity to work with and help build
some of the world's leading companies in the technology and
tech-enabled services sectors.
Media Contacts
Vishal Kurani
VP of Marketing, QX Global
Group
vishal.kurani@qxglobalgroup.com
Rob Iles
Managing Director, Visionise Ltd
rob@visionise.co.uk
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SOURCE QX Global Group