Built environment consultancy Ridge has secured investment from CVC to support the continued growth of the business, with Ridge’s equity partners remaining significant shareholders.
The global private markets manager will acquire its stake from Horizon Capital, which has been Ridge’s partner since April 2023.
Founded in 1946 and headquartered in Oxford, Ridge provides planning, advisory, design, engineering, programme and project management services across the built environment. The firm works with clients throughout the project lifecycle, supporting developments across a range of sectors.
The investment follows a period of sustained growth for the consultancy, with Ridge growing its revenues at a compound annual growth rate of approximately 23%, while more than doubling its workforce from around 800 employees to approximately 1,650 employees across 16 UK offices.
The firm’s growth has been predominantly organic, with senior hires opening new services and sectors including defence and security, science, healthcare, education and infrastructure, while Ridge’s existing teams have developed new capabilities and expanded the firm’s presence across the country with additional offices.
The business has worked on numerous flagship projects, including Manchester’s skyline, motorsport venues globally, the Northern Line extension and energy efficiency upgrades for Marks and Spencer. The firm has credited its long-standing client relationships for supporting revenue growth, with an estimated 88% coming from repeat business.
Partnering with CVC will allow Ridge to continue its investment in its proposition for clients and its people, alongside the capacity to take on larger and more complex workloads, subsequently driving growth and strategic mergers and acquisitions.
Adrian O’Hickey, senior partner of Ridge, said: “Securing investment of this calibre is a testament to what our people have achieved – a business that has doubled in size while staying true to what makes it Ridge.
“This next chapter isn’t about Ridge becoming a different business – it’s about giving us the scale and capability to grow as we always have: delivering exceptional work, bringing more outstanding people into the business and staying focused on our clients. CVC understands the model that got us here and brings the resources and reach to help us go further.”
Steph Admans, head of communications of Ridge, told Venture & Equity: “This is about continuing a plan we already had rather than starting a new one.
“Most of our growth has been organic and we expect that to continue, with acquisitions where they bring complementary expertise or enable new markets.”
She added: “The things that make Ridge work are not changing. We remain an independent, partner-led business and our Equity Partners remain significant shareholders.”
Dominic Murphy, managing partner of CVC, said: “We are delighted to partner with Adrian and the team, who have built a differentiated business characterised by a multidisciplinary offering and strong regional presence, with deep client relationships and substantial runway for continued growth.”
Luke Kingston, managing partner of Horizon Capital, said: “It has been a pleasure to work with Adrian and the wider partnership over the last three years. The business has grown significantly while retaining its absolute commitment to exceptional client delivery, which is at the heart of its success. We wish the team every success on the next stage of its journey.”
