- Euan Andrews, CEO of xDesign, will remain the majority shareholder
- Joe Tebbutt, principal at Soho Square, joins the board of directors
- Soho Square is an investment firm based in London
Soho Square Capital has made a minority growth investment in xDesign, a digital consultancy. No financial details of the transaction were disclosed.
xDesign is headquartered in Edinburgh, Scotland. The company, in the last two months, has launched a new cloud computing division and acquired CreateFuture.
Soho Square’s investment will support xDesign to accelerate its expansion plans with several new office openings planned around the UK and internationally, focus on organic growth across its business, as well as enhance its operational structure, according to a release.
Euan Andrews, CEO of xDesign, will remain the majority shareholder.
Joe Tebbutt, principal at Soho Square, will join the board of directors.
“Digital consultancy is an expanding market, and this growth has accelerated in recent years as companies increase their IT spend and transition operations to the cloud,” said Tebbutt. xDesign is a business that understands the true power of people to create great digital solutions that generate real positive change for clients and end users.”
Soho Square’s deal team was led by Tebbutt and James Smallridge, director.
Soho Square is an investment firm focused on providing flexible capital services, typically in the form of senior or preferred capital with minority equity stakes, to UK and European SMEs. The firm is based in London.
Soho Square was advised by Alantra (buy side – corporate finance), K&L Gates (legal), Grant Thornton (financial due diligence and tax), CIL (commercial due diligence), Intechnica (cyber due diligence) and Baringa (ESG Due diligence).