(Reading, UK, 11 January 2018) – UK construction Software-as-a-Service provider GroupBC has appointed software industry veteran Wes Simmons, previously managing director of construction financial software specialist Eque2, as its new chief executive.
The previous CEO and GroupBC founder Sanjeev Shah remains a board director, and will be focusing on expanding the company’s relationships with industry partners. Simmons will take over the day-to-day operational management of the GroupBC business.
Simmons started his construction career as a quantity surveyor and has worked in construction IT for major corporates including SAP, Unisys and Misys. As MD of Eque2 for four years from 2013, he grew the business from a £5m business to one generating annual revenues of £15m.
Simmons has also worked with private equity partners to grow businesses the size of GroupBC into more successful and more valuable assets through both organic growth and mergers and acquisitions.
“With Eque2 and GroupBC sharing some investors, the board identified that the next stage in GroupBC’s growth needed a sustained focus on instigating and building relationships with new industry partners. Sanj has led the development of current strategic partnerships with firms like PCSG, Wienerberger and IBM, and we believe he will help GroupBC extend its reach both across the industry and geographically, including internationally.”
A founder of the GroupBC business – initially known as Business Collaborator – in 1998, Sanjeev Shah steered the company through several changes of ownership, and in November 2014, led a management buyout of the GroupBC business from Unit4. Under his leadership, the business’s revenues grew to £3.795m in the year to 30 November 2016, increasing sales by 33% and boosting profitability by 77% year on year. In the past two years, GroupBC has nearly tripled its headcount, from 20 to 55 employees. Recent new customers include retailers Sainsbury’s and JD Sports, Jarvis Construction and the Houses of Parliament.
“Since the MBO, we have doubled revenues, and more than doubled the number of employees. Have already seen the benefits of our existing industry partnerships, I wanted the board to invest further in our partner channel strategy. They readily agreed to this on condition that it was led by a senior director of the business – and I am pleased to be leading this next stage in the company’s growth, including expansion into overseas markets.”
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