Clearwater advises Littlefish on its investment from Bowmark Capital

Transaction

Shareholders of LDC sold Littlefish to Bowmark Capital

Sell-side

Undisclosed

Role

Adviser to the shareholders of LDC on the sale of Littlefish to Bowmark Capital

Sector

Tech & Tech Services

Region

United Kingdom

Clearwater has advised the shareholders of Littlefish, a leading mid-market IT managed services provider, on a significant investment from Bowmark Capital. This is the second time Clearwater have advised Littlefish, having also been lead advisers on LDC’s investment in 2018.

Littlefish has existed in its current guise since 2010 providing a comprehensive range of managed IT, cyber security, cloud and IT consultancy services to over 200 customers across both the private and public sectors.

Littlefish has built a leading position in the market through a combination of high-quality service delivery, operational automation, and an organisational structure that enables the business to outcompete the larger, traditional outsourcers. Its services are highly tailored to the needs of each customer, allowing the business to achieve a category-leading net promoter score of nearly 80. This is delivered from UK only service centres, with many staff active participants in the company’s academy, which facilitates and rewards individual improvements in technical capability, service quality, and customer satisfaction.

As a result, Littlefish is delivering annual organic revenue growth of over 20%, boosted by its cyber security proposition for which it is generating a strong market reputation.

The business has been on a significant growth journey over the last 12 years, which has been achieved almost entirely organically. While we anticipate continuing our organic trajectory, we’re also keen to invest in broadening our portfolio, particularly in the fields of DevOps, digital transformation, and data management. We are delighted to be partnering with Bowmark who have impressed us with their commitment and market knowledge. Thanks to Wes for the valued counsel, deep market knowledge and passion and to the Clearwater team for the enormous effort and late nights to make this happen!
Steve Robinson, CEO of Littlefish

We have been on quite an incredible journey with Littlefish and we are looking forward to the next chapter with Bowmark who have persuaded all of us that they are absolutely the right partner to help us realise our ambitious plans for the business. This is the third time I have worked with Wes and the Clearwater team who stand out for the personal commitment to deals. Hopefully it won’t be the last time we work together.
Graham Gilbert, Chairman of Littlefish

Littlefish’s impressive performance is a testament to a differentiated service delivery strategy that means the business can win and deliver on contracts usually reserved for the large global outsourcers. Its customer-centric services combined with a talented local employee base has delivered strong organic growth. We are delighted to be partnering with the Littlefish team in the next stage of the company’s development.
Simon Kaufman, Investment Director at Bowmark

Having worked with the Littlefish team on the first transaction, it’s all the more special to have advised this one. Since LDC’s investment Littlefish has grown impressively and expanded its services whilst maintaining exceptional customer service and a focus on people and culture that’s only strengthened its position in the market. It’s the start of a new chapter for the team for which we wish them all the best and of course, we look forward to maintaining the great relationship! I’m proud of the Clearwater tech team: we have established a leading position in the IT managed services market having advised on transactions for Aspire Technology Solutions in March, BCN in June and exchanged on Littlefish in July…hopefully we’re not done just yet!
Wesley Fell-Smith, Tech Partner, Clearwater

Littlefish is a stellar example of our growing tech industry here in the heart of the East Midlands. Its expansion is testament to the strength of the proposition that Steve and his team have developed. We’re proud to have been part of their journey during this exciting time, and we wish them every success on the next stage of their journey.
David Bains, Partner and Head of the East Midlands and East of England at LDC