Beech Tree sells Redstor to tech growth company
Solihull-based Beech Tree has sold its investment in Redstor to tech investor Bregal Milestone.
Beech Tree is a private equity firm providing capital and expertise to fast-growing businesses. Beech Tree says throughout the four year period since investing in Redstor in 2017, it has supported the company in broadening its reach into a number of cloud applications, while introducing AI capabilities.
The growth investment from Bregal Milestone, a tech growth capital firm that manages more than €1 billion dedicated to investments in high-growth technology companies, will facilitate Redstor’s expansion into the US.
Redstor’s smart data management platform leverages AI and machine learning to help companies mitigate data, reduce potential attacks and adhere to regulatory standards.
Ben Cartwright, investment director at Beech Tree comments: “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.”
Paul Evans, CEO at Redstor said: “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.”
John Hales, principal at Bregal Milestone, added, “As a founder-led, category-leading SaaS business benefiting from powerful growth tailwinds, and one which we can actively support and internationalize its platform, Redstor is a perfect fit for Bregal Milestone’s portfolio.
This is one of Europe’s most exciting data management software companies, which has built a hyper-scalable global platform.”