Deal Announcement: QX Global Group Secures £100m+ Growth Investment from Long Ridge Equity Partners

Corbett Keeling is delighted to have advised QX Global Group (“QX”), one of the world’s fastest-growing business process management (“BPM”) and consulting companies, in securing a £100m+ growth investment from Long Ridge Equity Partners, a New York-based private equity firm.

QX was founded in the UK in 2003 by Chris Robinson and a small team of five Indian accountants based in Ahmedabad. Over the last 20 years, QX has placed itself at the heart of this dynamic sector, building a uniquely integrated platform that leverages its BPM expertise along with consulting services and automation technologies (including artificial intelligence). This enables transformation for its clients through end-to-end enterprise solutions across the accounting, recruitment, real estate, manufacturing, public sector, higher education, healthcare, consumer packaged goods, retail, utilities, and energy sectors. QX has grown to a team of over 3,000 staff across operations in 18 countries, including five delivery centres in India and one in Mexico.

Founded in 2007, Long Ridge is a US-based growth equity firm focused on investing in the tech-enabled services, enterprise software, and financial technology industries. Over their 17-year history, they have had the opportunity to work with and help build some of the world’s leading companies in these sectors.

QX spent over a year considering potential investment partners and met numerous firms during this process. Ultimately, the QX leadership team selected Long Ridge due to their experience in the tech-enabled services industry and excellent track record of partnering with fast-growing, high-potential businesses like QX.

Chris Robinson, Founder of QX Global Group, said, "The Long Ridge team brings a wealth of senior experience in the BPM and consulting sectors. I am so proud of everything that has been achieved at QX so far, and I couldn't have asked for a more impressive and experienced investment partner to support the next stage of the QX growth story."

The partnership brings together one of the fastest-growing global BPM specialists with a recognised US-based growth equity firm with a stellar history of helping build some of the world's leading companies in the technology and tech-enabled services sectors.

Angad Singh, Partner, and Jim Brown, Founder and Managing Partner at Long Ridge, jointly said, "We are very excited to welcome QX to the Long Ridge portfolio and have very high hopes of a truly rewarding growth partnership with Pom and his team over the coming years."

While the majority of the QX Board and management team will remain in their roles and reinvest in the company, the following key changes will result from the deal:

Following the investment, Founder and Executive Chairman Chris Robinson will step down from the QX Board after leading the business for the last 20 years.

Abid Neemuchwala will join the company as Chairman. Abid is a recognised leader in the BPM industry and will work closely with the QX team as the company executes its growth strategy. He is an advisor on Long Ridge's Executive Council and previously held the role of CEO at Wipro.

Frank Robinson, QX Global Group's CEO since 2018, will step into the role of Board Executive Director and retain a significant investment in QX Global Group.

Pom Chakravarti will assume the role of Group CEO. Pom has been with QX for nearly 20 years and has extensive experience as a leader across all the business's main divisions, and previously served as the company's Chief Strategy Officer.

Corbett Keeling, QX’s long-term corporate finance adviser, supported the company at every stage of the investment process, from initial preparatory work to hand-picking an investment partner with excellent chemistry. Through this exciting partnership, QX is well-placed to benefit from Long Ridge’s considerable sector expertise, excellent track record in working with fast-growing businesses such as QX, and ability to scale operations in North America.

Jim Keeling, CEO and Chairman of Corbett Keeling, said, “We have had the privilege of partnering with Frank and Chris for the past five years, supporting them through their acquisition of Chazey Partners in 2021 and now guiding them to a successful conclusion with Long Ridge. Witnessing the QX deal team’s unwavering professionalism and dedication has been truly inspiring. They balanced the rigours of the investment process with their daily operations seamlessly. It’s no wonder that QX attracted significant interest from investors from the very beginning.”

Harry Knight, Corporate Finance Director at Corbett Keeling, added, “Completing this deal marks a significant milestone for QX, and we take immense pride in having played a key role in bringing their partnership with Long Ridge to fruition over the past year. The growth potential, as validated by EY, is tremendous. We eagerly anticipate seeing this new team drive the company towards its ambitious goals.”