Digital consultancy xDesign ropes in growth capital from Soho

26 June 2023 Consultancy.uk 2 min. read
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Digital consultancy xDesign has secured a new injection of growth capital, as it seeks to bolster its expansion plans. The investment comes from Soho Square Capital, and will help the firm scale its operations across Europe.

Commenting on the deal, xDesign CEO Euan Andrews said, “To date, we’ve been a fiercely independent organisation, a fact that has enabled us to provide a truly award-winning experience for our clients and our talented team of people. 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 whilst maintaining the independent mindset that’s made us successful.”

Founded in 2010 by Andrews – who remains the majority shareholder – xDesign employs over 450 experts across the UK in its Edinburgh and Leeds offices.

Digital consultancy xDesign ropes in growth capital from Soho

xDesign partners with a number of major international and UK brands, including MoneySavingExpert, Yorkshire Building Society and the Flutter Entertainment Group, providing them with the skills and end-to-end digital capabilities they need to accelerate their digital transformation ambitions.

This is an offering which xDesign has been looking to grow in the last year. Since the spring of 2023, xDesign has launched a new cloud computing division, and acquired innovation and design company CreateFuture. In the process it has bolstered its market offering and added to its capacity to support clients.

With Soho Square’s investment and support, xDesign will look to accelerate these expansion plans – with a number of new office openings planned around the UK and internationally in particular. This includes a Glasgow office, slated for opening in the summer – which will be helmed by new Head of Scotland Darren Dalrymple. The firm will also focus on organic growth across its business, while enhancing its operational structure and company culture.

Soho Square Capital is an investment firm headquartered in London. The firm invests up to £40 million in any given transaction, across the capital structure, from senior debt to equity – and has previously backed European SMEs including the Alpine Fire Safety Group, facilities management firm The Churchill Group, and recruitment and consulting company Oliver James.

Andrews will continue to lead xDesign as CEO, along with his original management team – but the minority growth investment will see Joe Tebbutt, a principal at Soho Square, join the firm’s board of directors.

Tebbutt stated, “Soho Square’s minority backing is a real investment in its talented team of people, its unfaltering reputation for quality service and delivery – something which has already helped it build a high-profile roster of clients. We’re delighted to now be a part of the xDesign story, and can’t wait to support it in accelerating its ambitious expansion plans.”