The founders of a Glasgow engineering consultancy have praised their team of business advisers who helped them secure investment for a major expansion.
Xburo UK has secured backing from London-based private investment firm Chiltern Capital LLP to fund and accelerate a scale-up, recruitment drive, expanded service offering and push to extend its reach across the UK.
The deal, for an undisclosed sum, involved complex project management supported by the Corporate Finance department at accountants and business advisory specialists Azets, led by Partner Gordon Burns (pictured).
He and colleagues Anna Sharpe, Graham Cunning and others in the department worked closely with Xburo founders Thomas Brady and Michael Gribben and Andrew Reid, Investment Director at Chiltern, to get the deal across the line.
The success now paves the way for Xburo to grow substantially as a leading specialist in MEPH – mechanical, electrical and public health – focused on engineering, design and technical advisory services.
Both Thomas and Michael, who co-founded Xburo in 2018 and are staying on under the deal, have praised Azets’ input.
Thomas said: “We would highly recommend the Azets Corporate Finance team to anyone who is considering inviting investment into their business. We had never undertaken a process like this and were unaware of the various funding streams that were appropriate for our business. Gordon spent considerable time with us discussing the pros and cons of all available options. This enabled us to arrive at an informed decision.”
Echoing the comments from Thomas, Michael said: “Gordon and the team were fantastic in their project management throughout the process. This involved communications with multiple investment houses and keeping us adequately informed while allowing us to run the business. The direct line of communication employed meant all material points were quickly addressed, and challenges were quickly resolved. Without the team’s communication skills and initiative, the agreement may not have completed.”
Michael added: “The personable approach from the team was exceptional; it helped us navigate what was, at times, a stressful process. Gordon and his team were always available for ad hoc queries and conversations which gave us the confidence that all was in hand.”
Gordon said: “While Tom and Michael will remain firmly at the helm of operations, they now have a significant vote of confidence in their business journey thanks to the investment from Chiltern Capital. There’s an exciting future ahead for both parties and we look forward to seeing Xburo thrive. My Corporate Finance colleagues and I are delighted to have advised Xburo on their partnership with Chiltern, designed to grow their UK footprint. Working closely with clients to achieve their goals is the best part of our job.”
Xburo, which operates from offices in Glasgow, Edinburgh and London, works with clients in the public healthcare, defence, education and commercial sectors who need asset engineering, design and technical advisory support.
Azets is a UK top 10 accountancy and business advisory firm, with its Scottish offices in Aberdeen, Ayr, Edinburgh, Glasgow, Inverness and Perth.
