Ridge secures £40m investment from Horizon Capital

Multi-disciplinary built environment consultancy Ridge and Partners LLP – which has 12 offices across the country including Bristol – has secured more than £40 million from Horizon Capital LLP, a specialist private equity investor in technology and professional services, with the help of full-service law firm Shakespeare Martineau.

Horizon’s investment supports Ridge in delivering the next phase of its ‘Quality, Innovation and Growth’ vision, which sets a strategy for expanding expertise and nurturing talent in a progressive way.

The success of this strategy is clear in Ridge’s recent expansion from 577 people and £61 million turnover in 2020 to 1,000 people and a forecast £105 million turnover in 2023. Strategic acquisitions in the past three years have included Scott Hughes Design and Projex.

Ridge’s broad multi-disciplinary offering to clients – which includes depth in architecture, building services, engineering, planning, surveying, sustainability and transport – will be expanded by investing in talent across its core disciplines as well as through new acquisitions.

New acquisitions will complement Ridge’s existing practices and develop new services to enhance its track record of strong client relationships. Strategic opportunities include the digital revolution, the net zero carbon and social impact agendas and changing ways of living, working and learning.

Ridge senior partner Adrian O’Hickey said: “This is a transformational deal for Ridge – a catalyst for some of the most ambitious changes in our strategy. We’ve already been successful in turning up the dial on this business, introducing new initiatives and developing our people. We want to continue that progress, with the benefit of new investment, while maintaining our core values of quality, collaboration and agility all the way.

“Progressive growth is crucial for us and that means creating better and more sustainable places while offering cutting edge services for our clients and career opportunities for our colleagues.

“Horizon Capital’s focus on professional services and technology makes them a strong fit for Ridge and protects the personal culture of our 75-year-old business. Horizon understands the personal touch that distinguishes the Ridge culture and our willingness to exploit the latest technology to work more efficiently and more accurately.”

Through its investment in Ridge, Horizon Capital is adding built environment services to its portfolio of 14 technology services, business services, software and data companies.

Leading the deal, Shakespeare Martineau corporate partner Michael Stace said: “It was a privilege to have advised on such a significant investment for Ridge. Ridge is a quality business that has enjoyed significant growth in the recent past and I am sure this investment will continue that trend and make a positive impact on its people and innovation.”

The Shakespeare Martineau team advising on the deal included corporate experts Michael Stace, Jennie Davis and Gweni Rees-Evans, employment partner Matt McDonald, property partner Victoria Bovington and commercial expert Stewart Argo.