QX Global secures investment from Long Ridge Equity Partners

QX, one of the world's fastest-growing business process management companies, has reached a deal for Long Ridge to become a significant investment partner.

QX Global Group secures significant growth investment | PBSA News
Image credit: QX Global Group.

Leading provider of business process management (BPM) services – QX Global Group (QX) – announces significant investment from Long Ridge Equity Partners (Long Ridge). 

QX spent over a year considering the attributes of a potential investment partner and met a number of potential investment firms. Ultimately, the QX leadership team hand-picked Long Ridge because of their experience in the tech-enabled services industry and excellent track-record.

The partnership brings together one of the fastest-growing global BPM specialists with a recognised US-based growth equity firm with a stellar history of helping build some of the world’s leading companies in the technology and tech-enabled services sectors.

QX received corporate finance advice from Corbett Keeling, legal advice from Dechert, and financial and tax advice from Ernst & Young. Long Ridge received legal advice from Travers Smith and Choate, tax advice from KPMG, and debt financing from HSBC.

 “The Long Ridge team brings a wealth of senior experience in the BPM and consulting sectors. I am so proud of everything that has been achieved at QX so far, and I couldn’t have asked for a more impressive and experienced investment partner to support the next stage of the QX growth story.”

Chris Robinson, Founder, QX Global Group

As part of the investment deal, Long Ridge said that there will be some key changes. Whilst the majority of the QX Board and management team will remain in their roles and reinvest in the company, some key changes will come take place.

Founder and Executive Chairman Chris Robinson will step down from the QX Board after leading the business for the last 20 years. Abid Neemuchwala will join the company as Chairman. He is a recognised leader in the BPM industry, and will work closely with the QX team as the company executes on its growth strategy.  He is an advisor on Long Ridge’s Executive Council and previously held the role of CEO at Wipro.

Frank Robinson, QX Global Group’s CEO since 2018, will step into the role of Board Executive Director and retain a significant investment in QX Global Group.

Pom Chakravarti will assume the role of Group CEO. Pom has been with QX for nearly 20 years and has extensive experience as a leader across all the business’s main divisions, and previously served as the company’s Chief Strategy Officer.

“We are very excited to welcome QX to the Long Ridge portfolio and have very high hopes of a truly rewarding growth partnership with Pom and his team over the coming years.”

Angad Singh and Jim Brown, Long Ridge

QX has built a uniquely integrated platform that leverages its BPM expertise. It also aligns with consulting services and automation technologies to unlock value for its customers.

The company specialises in business and digital transformation, BPM and consulting services within the accounting, recruitment, real estate, manufacturing, public sector, higher education, healthcare, consumer packaged goods, retail, and utilities and energy sectors. Based on its specialised approach, the company saw revenue grow by 30% over the past twelve months.

Recently, QX Global Group, in collaboration with CBRE, hosted a panel discussion to launch its latest report, ‘The London Plan Three Years On: What’s been the impact on PBSA?’ The report delved into the development of PBSA under the London Plan.

The event gathered key stakeholders from the industry, including developers, policymakers, and educational institutions, who shared their experiences and insights. The discussion focused on the persistent challenges in meeting the growing demand for student housing in London.

QX Global Group and CBRE’s report provides a comprehensive analysis of the current state of PBSA in London. It covers various aspects, including Policy H15, which mandates that 35% of new PBSA units must be affordable.