Scottish Equity Partners seals £18m investment in expanding tech business

Scottish Equity Partners (SEP) has completed a $25 million (£18m) investment in a growing technology business with the likes of BP and Procter & Gamble on its books.

Basis Technologies is a provider of DevOps and test automation software for SAP enterprise software systems. It is based in Richmond, London, with several overseas operations.

The firm is said to have experienced significant growth in recent years and investment from SEP will enable the business to further accelerate product development and increase adoption of its software through expansion of global sales and partnership capabilities. The company already employs more than 70 people.

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Chief executive Martin Metcalf said: “We are delighted to have SEP on board as our investment partner to help fuel the continued growth of Basis Technologies. We look forward to working together to expand our product, sales and delivery capabilities.”

Keith Davidson, a partner at SEP: 'Basis Technologies has an excellent reputation'
Keith Davidson, a partner at SEP: 'Basis Technologies has an excellent reputation'

Keith Davidson, a partner at SEP, added: “Basis Technologies is ideally positioned to benefit from the increasing need to adopt DevOps within SAP environments as businesses transition to the cloud and SAP’s new offerings.

“The company has an excellent reputation, puts its customers first and has significant experience delivering innovative automation software to organisations using SAP. We are pleased to be partnering with the team at Basis to help them achieve their strategic growth goals.”

Last month, Scottish Equity Partners completed a “significant” growth equity investment in Glasgow-based fintech firm AutoRek.

The aim is that investment from the private equity group will enable the company to accelerate its product development plans and further extend its offering internationally.

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