Vertex acquired by US consortium

Vertex has been acquired from United Utilities by a consortium of three leading US investment firms, Oak Hill Capital Partners, GenNx360 Capital Partners and Knox Lawrence International.

Through the acquisition, Vertex now becomes a private company backed by investors.

With this backing, Vertex aims to become a major player in the fast growing global business process outsourcing marketplace.

The company will continue to trade as Vertex Data Science.

On sale completion, Tom Drury stood down as Vertex managing director.

The investors nominee for chief executive officer is Richard Graham, a Canadian executive with wide experience in shared services operations and financial institutions.

He says: The divestment from United Utilities provides an ideal opportunity for Vertex to build its own future.

Oak Hill Capital, Knox Lawrence and GenNx360 each have a proven track record of acquiring businesses and supporting their development.

Meanwhile we fully intend to build on the success of Vertex, securing our future prosperity by improving efficiency, creating a competitive platform, developing our pipeline and investing in strategic growth.

We can see tremendous opportunity to build on the skills, experience and processes that Vertex has in order to grow the business.