Private equity-backed digital ecommerce agency makes acquisition
A Manchester-based digital ecommerce agency, which has been backed by private equity investment, has made an acquisition as it takes on its next phase of growth.
Space 48 Ltd has acquired Brave the Skies, a York-based provider of ecommerce development and consultancy services.
The acquisition has been made possible by the support of regional private equity investor Foresight Group, who invested in the company in February 2021.
During the last 12 months, the business has grown revenues by more than 40 per cent. The growth has come from new customers, with an improved outbound sales process, more efficient working practices and closer working relationship with platforms such as BigCommerce.
Growth has also been achieved with staff numbers increasing from 50, at investment, to 105.
Foresight’s investment – from the North West focused Foresight Regional Investment Fund – into Space 48 has enabled founder and managing director, Jon Woodall, to take the business through its next stage of growth.
Space 48 offers clients a full range of ecommerce consulting services with a focus on designing services to improve end-customer experiences and drive online sales. This includes ecommerce design, engineering, re-platforming, platform improvements, growth marketing and ecommerce consultancy.
Space 48 has a focus on e-commerce development and consultancy services, including new builds, bespoke platforms, implementation, and integration of digital platforms covering BigCommerce and Shopify Plus.Brave the Skies is owned by Ryan Atkins, with day-to-day operations overseen by managing director, Lucy Roberts-Mitchell. She will continue to lead the fifteen person Brave the Skies division within the combined group.Matthew Pomroy, director at Foresight, said: “This acquisition represents a key milestone in the evolution of Space 48. This talented team has gone from strength to strength since our initial investment, and with Brave the Skies now on board the future is incredibly exciting.”The service available to customers has already been enhanced […]
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