Beech Tree Private Equity (“Beech Tree”) is pleased to announce the sale of its investment in Redstor to a leading tech investor, Bregal Milestone. Beech Tree invested in Redstor in 2017 after identifying the business as a leading provider of data backup software managing exponential growth and spread of data across customer enterprises.
During the four year period of Beech Tree’s investment, Beech Tree has supported Redstor to develop its product into a more holistic data management offering by broadening its reach into a number of cloud applications and introducing AI capabilities. Beech Tree has also helped Redstor to refine its go-to-market sales and marketing strategy in the channel and build out the senior leadership team, enabling Redstor to accelerate its organic revenue growth significantly.
Redstor now enables managed service providers (MSPs) and channel companies serving the mid-market to discover, manage and protect customer data across the broadest range of environments from a single, cloud-based application. Using Redstor’s all-in-one platform, MSPs can protect data on-premises, within cloud-native infrastructures like Kubernetes and in SaaS applications including M365, Google Workspace, Salesforce and Xero. MSP partners can scale their services and introduce new revenue and growth opportunities while dramatically reducing management overhead.
Ben Cartwright, Investment Director at Beech Tree said "We are delighted to have worked with Paul and the management team at Redstor over the past four years. The business has grown substantially – both in terms of scale and also in terms of the coverage and features included within its Pro software. Redstor is now a category-leading data management and SaaS protection company and is now well positioned to accelerate its international expansion into the United States and further develop its AI-enabled platform. This exit represents a very strong return for Beech Tree and I wish Bregal Milestone and Redstor every success for the future."
Paul Evans, CEO at Redstor commented: “We have enjoyed a wonderful partnership with Beech Tree following their investment in Redstor in the Autumn of 2017. Together we evolved the Redstor platform into a smart all in one data management and protection platform for the channel and their backing was instrumental in attracting a number of key leadership hires who have helped us become category leading. We are excited to welcome aboard Bregal Milestone as our new growth partner so that we can expand rapidly and internationalise inline with our strategic vision”
Technology M&A specialists Results acted as lead corporate finance advisors to Redstor. Osborne Clarke acted as legal advisor for the transaction. PWC provided financial and tax advice and EY-Parthenon provided commercial diligence support.