London based QX secures £100 million investment from US private equity
London based business process management firm QX Global Group has secured a £100 million plus investment from an American private equity firm to help boost further growth and expand its workforce of 3,000 employees across 18 countries.
The company, which has its London office in The Shard and was recently named one of the fastest-growing UK companies in India, won the funding from US-based Long Ridge Equity Partners.
QX specializes in providing business and digital transformation, process management, and consulting services to sectors including accounting, manufacturing, healthcare, retail, and energy.
Revenues have grown by 30% over the past twelve months.
QX founder and executive chairman Chris Robinson, said: “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.”
Robinson will step down from the QX Board after the investment is completed after leading the business for the last 20 years while Abid Neemuchwala, an advisor on Long Ridge’s executive council, will join the company as chairman. Pom Chakravarti will take on the role of CEO but most of the QX Board and management team will remain in their roles.
QX was founded in the UK in 2003 by Robinson and a team of five Indian accountants based in Ahmedabad. Over the last 20 years, QX has grown to a team of over 3,000 staff spread across operations in 18 countries, including five delivery centres in India and one in Mexico.