LinkedIn
YouTube
DriveWorks
Technology • North West • Growth
Company
information
Total BGF investment
£4 million
Investment date
Feb 2021 - Oct 2024
Head office
Warrington
We first invested in DriveWorks in February 2021, providing £4 million of minority capital, to support the continued development of its software platform and its international growth. We also introduced DriveWorks to its Non-Executive Chair, Sharon Baylay-Bell.
In October 2024, the fast-growing technology business was acquired by Bechtle AG, a €6 billion revenue technology group (headquartered in Neckarsulm, Germany). The successful exit generated a money multiple of 2.7x and an IRR of 32% for BGF.
During our investment period, DriveWorks was able to more than double revenues, reaching €6.5 million in the 2023/24 financial year. We’re proud to have supported the company in accelerating its growth plans, resulting in a positive exit for all parties.
“BGF’s investment in 2021 was a real catalyst for growth and helped us to achieve our goal of successfully scaling the business. BGF has helped us to create significant value in the business, through our expansion and around succession planning. With the team’s support, we’ve attracted a high-quality buyer which will ensure future success for our business, team and customers.”
Co-Founder of DriveWorks
