Scottish Equity Partners has backed the senior management team of Tryzens through a deal which will result in the group acquiring the business.
The purchase is being led by chief executive Terry Hunter, who has headed up the company since 2003 and built it up to a size of 200 staff.
Hunter comments, ‘This is a fantastic opportunity to really focus on the core business of Tryzens – and to expand across Europe, and internationally.’
From its offices in London, Bulgaria and India, Tryzens provides digital services linked to increasing sales, improving customer experience and site performance. Its customers include JD Sports, Tesco and Waitrose.
Partent company Jaywing, which is a brand communications business, is ending its involvement with Tryzens through the deal.
New backer Scottish Equity Partners has portfolio companies such as Skyscanner, which was recently valued at £500 million, SocialBro and Matchesfashion.com.
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Andrew Davison, partner at the venture capital firm, adds, ‘We have been impressed with the technical innovation, in-depth business knowledge and creative vision of the management team.
‘Our investment will help future growth by enabling the company to further promote its e-commerce solutions and build on its already strong reputation in the market.’
Other deals for Scottish Equity Partners in 2013 have seen the Glasgow-based firm add email and SMS marketing company Pure 360 and energy business Smarter Grid Solutions to its portfolio of interests.
