PRESS RELEASE: Ceterna Group receives indicative funding of £5m for buy-and-build acquisition strategy in the Salesforce ecosystem.
LONDON – 20 MAY 2019
Ceterna Group, the UK’s highest rated Salesforce implementation partner, received indicative financing of £5m syndicated by Cheswick Capital, for the purposes of funding a buy-and-build acquisition strategy.
With over 700 projects successfully delivered, Ceterna Group are known as the best at what they do, with an enviable reputation and expertise across the Salesforce stack including Sales, Service, Community, CPQ, FSL, and App development.
Ceterna Group CEO Sean Harrison-Smith reported that partnering with Cheswick has been an amazing experience.
“…For a long time we have pondered how best to take Ceterna Group to the next level. With Cheswick, we have a partner who shares our ambitious vision and are excited to embark on our next phase of growth, leading the way in the Salesforce ecosystem. Initially, target acquisitions will consolidate digital marketing, data and training under common ownership and control. Recognising key staff with a large shareholding in the Company is a great way of aligning interests and rewarding many years of loyal service…”
Keith Steven, Director at Cheswick Capital, selected Ceterna Group and its management team as the smartest launch point for tapping into the 20% growth p.a. generated by the Salesforce ecosystem.
“…Ceterna Group has demonstrated great thought leadership and strong technological expertise in the Salesforce ecosystem. We couldn’t be happier to partner with Ceterna Group to create a multi-capability partner group with reach across the entire ecosystem. The idea of sponsoring a consultancy owned by the consultants and the key employees is an innovative means for de-risking the strategy considerably. We are pleased that 25% of the shares in Ceterna Group will be allocated to the staff who are essential to the success of the vision; and that this shareholding will rise to 50% over the coming years….”
According to Charlie Lang, CTO of Ceterna Group,
“…as the ecosystem grows through every acquisition so too does the need for SI partners to be flexible and be able to deliver not just vertical technical stack skills but also horizontal complimentary skills, to be a true asset to the ecosystem. Rather than developing these skills organically, the intention is to merge/acquire agencies and organisations with the necessary skill sets. This investment will allow us to do so as well as develop new propositions and cutting-edge solutions on the Salesforce platform.
Ceterna Group currently has offices in London, Manchester and Hong Kong and employs over 45 Salesforce experts, with plans to grow over the coming year.
Contact Ceterna today.