Double Diamond Supply has secured an vital new funding, because it seems to be to increase its companies throughout the south of England. The Bathtub-based agency has secured a strategic partnership with Spherica Enterprise Options, in a deal supported by KBS Company.
Based by Olly Lock, integrated in 2021 and based mostly in Bathtub, Double Diamond affords intensive expertise in technology-enabled change, structured supply, resolution design, and operational enchancment. The agency helps shoppers in a variety of market sectors together with native authorities, housing associations and healthcare, whereas sister firm, Double Diamond Recruitment, offers supplementary recruitment companies to those self same corporations.
Because the agency seems to be to push forward with development plans, a significant stake in Double Diamond has been acquired by Spherica, a Birmingham-based expertise and IT managed companies supplier which allows organisations to modernise expertise, maximise efficiency, and absolutely leverage AI and automation.
Kay Riley, Spherica’s managing director, commented, “This funding represents a key milestone for Spherica. Bringing Double Diamond into the group strengthens our transformation functionality and allows us to assist extra organisations flip expertise become significant operational outcomes.”
As Double Diamond seems to be to additional stimulate development, CEO Olly Lock – who stays on the head of the corporate – insisted that the deal was extra of a strategic partnership than a straight buy. He argued that whereas Spherica is buying a majority shareholding, which means formally the agency is “being ‘acquired’”, in reality “we see this as a partnership.”
Lock added, “Double Diamond Supply and Double Diamond Recruitment will stay as organisations in their very own proper, though authorized buildings will place us as a part of the Spherica group. It’s a no-change place, nonetheless we anticipate to see large advantages of being half of a bigger organisation from a enterprise improvement and operational perspective.”
The transaction was suggested by Will Griffiths, a deal govt with KBS Company. Griffiths defined that the agency was “delighted to deliver the transaction course of to a profitable conclusion”.
He expanded, “I’d like to supply my congratulations to each Olly and Spherica. It’s an amazing end result for all concerned and I want them one of the best of luck going ahead.”
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