Scottish Equity Partners exits global digital agency Tryzens after decade

Scottish Equity Partners (SEP) has achieved an exit with the private equity-backed management buyout (MBO) of a global ecommerce agency whose clients include payment platform Klarna and fitness wear firm Sweaty Betty.

Tony Robison, partner at SEP and former non-executive director at Tryzens, says: 'We are pleased to have supported Tryzens' growth.' Picture: contributed.

The purchase of Tryzens, terms of which have not been disclosed, ends a decade of ownership by SEP and marks the first investment from the third fund of WestBridge, a private equity firm operating in the lower mid-market that has set aside funds to support a strategic “buy and build” strategy.

Tryzens, which is headquartered in London with further offices in Australia, Bulgaria, and India as well as a forthcoming US presence, collaborates with brands to optimise sales and growth through digital channels. Its client portfolio also includes Cotton On Group and Treasury Wine Estates as well as technology vendors such as Loqate GBG and Attentive, and it works with platforms including SAP, Adobe, and Shopify Plus.

Glasgow-based SEP in 2013 backed an MBO of Tryzens, buying it from Aim-quoted parent company Jaywings, and saying at the time that it was “impressed with the technical innovation, in-depth business knowledge, and creative vision of the management team”.

Tony Robison, partner at SEP and former non-executive director at Tryzens, said: “We are pleased to have supported Tryzens’ growth as the company has expanded its services, market presence, and international reach. We wish Andy and the Tryzens team continued success with their new partners Westbridge.”

Andy Burton, chief executive of Tryzens, said: “I would like to thank Tony and the team at SEP, as well as our inspirational outgoing chairman, Geoff Unwin, for their tremendous support over the years. Speaking for my team, we have very much enjoyed the journey together and take enormous pleasure in what we have created: a strong, dynamic and high-quality business that now has operations across the globe, supporting clients through their digital journey... we are delighted to have selected WestBridge as our new partner, who share our ambition, principles, and drive.”

Guy Davies, managing partner at WestBridge, said: “Tryzens is a high-quality business led by an outstanding management team that meets our investment criteria of being niche leaders in a fast-growing market. Working in partnership with management to accelerate its growth by deploying our value-creation approach, we believe, will create a truly exceptional business over the next few years.”