xDesign expands after Soho Square Capital deal
Digital consultancy xDesign is planning to open a number of offices after securing a minority investment from Soho Square Capital.
The deal, believed to be between £15m and £40m, will see Joe Tebbutt, principal at Soho Square, join Edinburgh-based xDesign’s board.
Euan Andrews, who launched the business in 2010, remains the majority shareholder and will continue to lead the business as CEO.
xDesign employs more than 450 specialists across the UK and has offices in Edinburgh and Leeds.
The funding will allow it to accelerate its expansion plans with a number of office openings planned around the UK and internationally, focus on organic growth across its business, as well as enhance its operational structure.
In the last two months the company has launched a cloud computing division and acquired innovation and design company CreateFuture.
It has partnered with MoneySavingExpert, Yorkshire Building Society and the Flutter Entertainment group.
Mr Andrews said: “To date, we’ve been a fiercely independent organisation. In Soho Square, we now have an investor – and more importantly – a partner, that will help us amplify our mission to create a truly human-centric digital consultancy on a much bigger scale.”
Joe Tebbutt, Principal at Soho Square, commented: “xDesign is a business that understands the true power of people to create great digital solutions.”