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Reading: BGF announces successful exit of HeleCloud

By Karolina Skinner
4 October 2021

Investor BGF has announced a successful exit of HeleCloud, an independent AWS Premier Consulting Partner, following its acquisition by SoftwareONE Holding AG, a global provider of end-to-end software and cloud technology solutions.

Founded in 2016, HeleCloud offers cloud-native managed services. The business serves EMEA markets from three locations across Europe: the UK, the Netherlands, and Bulgaria.  

Since 2018, BGF has invested £3 million in HeleCloud to accelerate the company’s organic and acquisitive growth strategy. During the investment hold period, BGF’s funding has facilitated HeleCloud’s 'buy and build strategy' which saw it acquire Dutch AWS partner, OlinData in 2019, followed by DataStork, a cloud software engineering and AI/ML services company, based in Sofia, Bulgaria, in 2020. 

CEO and Chief Cloud Officer at HeleCloud, Dob Todorov (pictured) said: "BGF’s funding has been instrumental in helping us to scale rapidly in a relatively short period of time. The partnership has enabled us to make important strategic acquisitions, boost our services portfolio, expand into further European territories, and develop new cloud capabilities.

The sale of HeleCloud to SoftwareONE marks BGF’s third exit this month following the sale of BHR Group to Framatome, a leading international nuclear energy company; and BGF’s exit of The Clearway Group following a new investment by Next Wave Partners.

HeleCloud and BGF were advised on the deal by Alantra (Corporate Finance), FieldFisher (Legals), and Wilson Partners (Tax).

About BGF

Set up in 2011, BGF has invested more than £2.5bn in over 400 companies. BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. It invests in growing businesses in the UK and Ireland through its network of 16 offices. In 2018, Canada launched its equivalent – the Canadian Business Growth Fund – and in 2020, Australia did the same, both based on BGF’s funding model.