Skewb receives investment from BGF

Think 21min read
Posted in: Raising finance

Case Study

Skewb receives investment from BGF.

The deal.

We advised Skewb, a leading provider of consultancy, digital transformation services and products to the energy and water sector, on its significant £6.25m investment from BGF.

The investment will support the continued growth of the business, as it looks to expand its suite of products and consultancy and transformation services, to meet the demands of an expanding customer base.

Skewb has seen significant financial momentum to date, growing revenue almost fourfold over the last three years. Skewb works alongside a large number of UK utilities and engineering partners, and employs 170 people, or ‘Skewbers’ as they’re known, from its headquarters in Warwick.

The business, which was founded in 2018 by husband and wife team Shashi and Indu Seshadri, has built a strong reputation for enabling water and energy companies to tackle key challenges and achieve operational efficiencies.

In the last 18 months, the business has developed proprietary software and services covering several business process areas. These include connections, developer services, water leakage, water demand, net zero, operate and maintain, as well as emergency and repair, which enable customers to outperform targets, comply with obligations, be cost efficient and embrace technology effectively to create an overall better customer experience.

Our role.

We were engaged by Skewb in 2022 to help them find a suitable partner to help supercharge growth plans. After spending time with the founders and understanding their objectives, it was key to the team that the right partner, who shared the same ethos and culture, was found.

There was strong interest from PE, who were impressed with how quickly Skewb had been able to establish itself in the sector and the rate at which it was growing. BGF were selected as the preferred partner, and we worked closely with them through the due diligence and legal process, resulting in the closing of the transaction in April 2024.

Skewb is helping to drive business efficiencies across the water and energy sector in an innovative and transformative way, translating the vast experience of the team to deliver exceptional results for its clients. We look forward to supporting Skewb as it continues on its impressive growth journey, enabling it to seize opportunities and put its stamp on an industry calling out for a dynamic and exciting business such as this

Nick Holder, Investor, BGF

What our client said.

In a short space of time we have exceeded our growth ambitions. From a standing start, we have consistently enabled multi-million pound efficiencies for our utility customers. Our focus has always been on doing the right thing – always delivering for our customers and continually investing in our Skewbers. These are the core ingredients to execute a compelling growth strategy. Partnering with an experienced, long-term minority investor like BGF – one that is prepared to take a patient approach and support us over time as we grow – is an important stage in our growth cycle. We also thoroughly enjoyed working with the Clearwater Growth team on this transaction – their expert guidance throughout was invaluable and gave us the confidence that the future of our business was in the right hands.

Shashi Seshadri, Co-Founder and CEO, Skew

In BGF, the team has secured the perfect partner to support them on the next phase of their growth journey. We wish them every success in the future and look forward to supporting them along the way.

Rob Britton, Partner, Clearwater Growth