Bridges Fund Management has invested in Storetec, a digitisation and data storage business in which it has acquired a majority stake.
Storetec, based in Hull, provides outsourced document scanning, archive storage and cloud-based document management solutions to businesses in both the public and private sectors, including NHS Trusts, councils, FTSE 100 companies, professional services firms and SMEs. This enables organisations to protect their most sensitive data and build more sustainable digital workflows.
Bridges’ investment (via its Sustainable Growth Funds) will see it working in partnership with the existing management team, led by founder & CEO Neil Robson, to accelerate the growth of the business and support more clients in the UK and beyond. This will include embedding best-in-class impact management practices throughout the business to build an impact-led exemplar in the ESG services sector, with data security at its core.
Neil Robson, CEO at Storetec, said: “We’re excited to be partnering with Bridges at this critical stage of the business’s growth journey. We wanted an investor who understood our market, shared our values, and had a strong track record of helping businesses like ours to harness their growth and impact potential. Bridges fitted the bill perfectly.”
Simon Braham, partner at Bridges, said: “In the last few years, the digitisation trend has accelerated rapidly. Protecting sensitive corporate and personal information has to be a priority for every organisation.
“We identified Storetec as a best-in-class operator in this sector, and we believe it has a really compelling market opportunity. We’re looking forward to partnering with Neil and the team to help accelerate Storetec’s growth and establish it as an ESG champion in the sector – drawing on our extensive experience of impact-driven value creation.”
