Structured Minority Growth Investment of Soho Square in Assured Data Protection

Soho Square Capital Group, an investment firm focused on financing established and growing UK and European SMEs, announced a structured minority growth investment in Assured Data Protection Ltd, a MSP focused on backup and DR, whose services are powered by Rubrik, Inc.‘s software.

Working with Soho Square to utilise its expertise and support, as well as its capital, Assured will accelerate its growth plans.

Simon Chappell (CEO), Stacy Hayes (EVP Americas), Robert Mackle (MD EMEA), Stewart Parkin (CTO EMEA) and Andrew Eva (CTO Americas) are the team who founded the business in 2016 and they will continue to drive and accelerate the growth of Assured with Soho Square’s support.

Assured’s services are built around the Rubrik software to offer backup, DR and BC Solutions to large SME’s and enterprises. They allow organisations to install and use Rubik’s technology through flexible Capex/Opex models with a fully managed service that offers tailored 24/7 support.

Assured has built a customer base in the mid-market (<$1 billion revenue) including Shoosmiths, University of Birmingham, Ineos, City & Guilds and the Royal Opera House, as well as larger clients such as Disney, Elanco and Honda.

Its UK office is based near Leeds, UK, and its US office is in Herndon, VA.

Chappell said: “Soho Square’s flexible approach to investing makes them the ideal partner for us. We will benefit from an injection of capital and their expertise to accelerate our growth, and importantly we retain control of our business. We are seeing exciting growth opportunities as companies continue to invest in IT and data protection, and believe that being an exclusive MSP to the Rubrik software gives us a competitive advantage through having superior in-depth expertise.”

James Smallridge, director, Soho Square, commented: “We see real potential in the Assured Data Protection business, particularly through its partnership with Rubrik, as well as the fact that there is a growing demand for backup as a service. The Assured Data Protection team has built a fantastic reputation through its market-leading customer service, fast response times and flexible capex/opex delivery models. At Soho Square, we design investments to work perfectly for ambitious leaders of UK and European businesses. Our bespoke financing solution helps business leaders like Simon and his co-founders to stay in control of the businesses they created, whilst securing capital and know-how to accelerate growth.”

Soho Square’s deal team was led by Smallridge, supported by Joe Tebbutt and Mark Bourke. The investor was advised by K&L Gates (legal), Grant Thornton (financial due diligence and tax), Stax (commercial due diligence), PwC (technology and cyber due diligence), Baringa (ESG due diligence), Silverbridge (management referencing) and Vista (insurance DD).

Assured was advised by EY (corporate finance and tax) and Pinsent Masons (legal).