Kerv is a leading cloud and digital services provider created in July 2020.
Kerv provides a suite of integrated cloud and digital transformation services to mid-market, enterprise and public sector organisations. The business partners with global technology leaders and tailors its solutions for customers in key industry verticals, including financial services, public sector, retail and the not-for-profit sector.
Invest and grow strategy
In July 2020, LDC backed founders Alastair Mills and Mike Ing to merge three highly complementary, cloud-based managed services businesses. LDC invested £22m in the initial transaction and, over the course of the next three and a half years, provided £20m in follow on funding to support complementary acquisitions.
In 2020 we had an ambition to create a technology business that truly put customers and employees first, recognising this is the key to long-term, sustainable growth, and I’m proud to say we’ve achieved that goal. LDC understood our vision and got behind us from the start.”
With LDC’s support, Kerv invested significantly in its technology and team to support sustainable, long-term growth and deliver its market-leading customer experience strategy.
Despite rapid growth, the business has maintained its people-first focus, being named a Great Place to Work-Certified™ organisation in recognition of its successful employee engagement strategy and focus on diversity and inclusion with 35% of new job roles filled by women, surpassing the UK average of 20% for women in technology. Kerv is also on a journey to become a certified B-Corp as it remains steadfast in its mission to improve societal outcomes through technology.
Transformational results
During the partnership with LDC, Kerv increased revenues five-fold from £20m to £100m, grew EBITDA from £3m to nearly £20m and increased headcount from 100 to 700.
With 30% organic growth every year since 2020, the business’ client roster has expanded to include household names such as Standard Chartered, Skipton Building Society, DVSA and Kingfisher Group.
“Over the past three and a half years, they’ve provided additional funding to support acquisitions and helped us to scale significantly, all without losing sight of what makes us special – our people.”
Continuing support
In January 2024, LDC exited Kerv after Bridgepoint Development Capital invested in the business for a majority shareholding.
The transaction, led by LDC’s Aylesh Patel and Francesca Speke, generates an IRR of 45% for LDC.
LDC has also reinvested £30m to support the continued growth of the business.
LDC have been a brilliant supporter on our journey so far. We look forward to a bright future with both LDC and Bridgepoint’s backing. This significant milestone will enable us to continue to deliver on our mission to harness the power of technology for the good of our people, our customers, our society and our planet at even greater scale.”
Watch the video
Hear from Managing Director Mike Ing on the triple merger that formed Kerv and how he and serial entrepreneur, Alastair Mills, built a company to disrupt the cloud-first managed services market.
Watch the video