CBPE Capital secures investment in FSP

FSP is a consultancy firm based in Reading, England.

  • LDC has also reinvested in FSP alongside CBPE
  • CBPE’s investment in FSP is its sixth from CBPE Capital Fund X
  • CBPE’s investment has supported FSP’s acquisition of cybersecurity consultancy firm Savanti

CBPE Capital has secured investment in FSP to assist the firm in its continued expansion. No financial details of the transaction were disclosed.

FSP, based in Reading, England, offers a range of consultancy services to large companies and public sector organisations spanning digital transformation, cloud engineering, data and artificial intelligence and cyber security.

LDC has also reinvested in FSP alongside CBPE.

LDC first invested in the firm in 2020 and since then FSP has seen its revenues increased by over two-fold, according to a release.

LDC’s investment in FSP was led by Chris Morris, investment director, and Lawrence Dean, partner & head of south.

CBPE’s investment was led by Jolyon Latimer and Jason Khaksar.

This marks the sixth investment in CBPE Capital Fund X, which closed at the hard cap of £561 million in November 2020.

CBPE’s investment has backed FSP’s acquisition of Savanti, a London-based cyber security consultancy firm. The integrated business will likely produce revenues of around £30 million in the current year and employ over 250 digital transformation and cyber specialists, the release stated.

“Both FSP and Savanti benefit from a people-centric culture and pride themselves on delivering exceptional levels of customer service,” said Latimer, partner at CBPE. “The combined group is well placed to continue to scale and enhance its service offering.”

CBPE was advised by PwC (CF and tax), Addleshaw Goddard (legal), and KPMG (financial).

LDC is the private equity arm of Lloyds Banking Group that invests in a diverse range of mid-market businesses. The firm is based in London.

London-based CBPE is a UK private equity firm targeting buyouts and development capital investments in UK-headquartered businesses with enterprise values up to £150 million. The firm has made 60 such investments across five funds since 2000.