Bridgepoint has announced its financing of a management-led buyout of Condatis, a leading UK-based cybersecurity consulting firm specialising in digital identity and access management solutions, via Bridgepoint Growth II (BG II), its small-cap franchise focused on providing growth capital to dynamic, rapidly growing businesses across Europe.
Condatis, headquartered in Edinburgh, UK, designs and implements advanced digital identity solutions based on Microsoft Entra, Microsoft’s identity and access management suite. Condatis’ services, which primarily focus on the ‘Zero Trust’ identity access model, offer robust protection through cutting-edge authentication protocols and credential verification, ensuring that sensitive data remains secure. The company serves a client base that includes major public sector bodies as well as leading private sector organisations.
Condatis operates in a buoyant global market for digital identity services driven by strong tailwinds, including increasing regulation, cloud migration, and the growing sophistication of cybersecurity threats. Since its demerger from Sitekit Group in 2022, Condatis has grown rapidly, garnering a reputation as a best-in-class specialist in its sector, reflecting the sophistication of its proprietary technology, Cenda.
The investment builds on Bridgepoint’s extensive track record of supporting the growth of tech-enabled and cybersecurity specialist businesses, such as Infinigate, DataExpert and Kerv. With Bridgepoint’s support, Condatis is well-positioned to significantly accelerate its growth strategy and cement its status as a leading provider of digital identity solutions across public and private sectors.
Duncan Calam, Partner and Head of Bridgepoint Growth, commented:
"We are delighted to have partnered with Condatis at such a pivotal time in its development. The company’s unique offering in the identity and access management sector offers significant headroom for growth, when paired with Bridgepoint’s expertise in backing high-growth technology businesses.”
Condatis’ CEO, Chris Tate, added:
"We are excited to embark on this next chapter with Bridgepoint. Their experience in growing technology and cybersecurity businesses will be invaluable as we execute our strategy to become a leader in the digital identity and access management space. With their support, we look forward to driving continued growth and delivering more value to our clients."
The transaction completed in October 2024. Financial details of the transaction were not disclosed.