Eight-figure deal

2i Testing eyes acquisitions after Rockpool funding

Dave Kelly: exploring opportunities

A Scottish software testing firm has secured an eight-figure private equity investment to accelerates its £50m turnover target, possibly through acquisitions.

Edinburgh-headquartered 2i Testing, whose clients include the Home Office, Virgin Money, Abrdn and the Scottish Government’s Social Security Directorate, has been backed by London-based Rockpool Investments.

2i helps firms roll out major IT programme. It has more than 200 staff across the UK and a turnover of £20m.

Chief executive Dave Kelly is keen to explore acquisition opportunities with the injection of capital and support from Rockpool.

Rockpool’s investment was led by Guy Nieuwenhuys and Will Beckett.

Paul Winterflood from MKS Corporate Finance, which supported 2i throughout the process, said: “Rockpool’s investment in 2i is a fantastic partnership for all concerned.”

Rockpool was advised by Stephenson Harwood (Legal), Saffery (Financial & Tax), Palladium Digital (Technology), Continuum (Organisational) and Claritas (Tax Structuring). 2i was advised by Moore Kingston Smith (Corporate Finance & Tax) and Bird & Bird (Legal).

2i is headquartered in George Street, Edinburgh, with other offices in Glasgow and London.

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