Wilton & Bain Places CIO for Truespeed

March 7, 2023 – Wilton & Bain has placed Robert Purdy as the new chief information officer of TruespeedJay Siddiki and Nic DeVito from the firm’s global technology practice led the assignment. “Robert is a fantastic hire for Truespeed,” said Mr. Siddiki. “He will be a brilliant addition to an already brilliant leadership team. As the business continues to go from strength to strength, there is no doubt that it will be an exciting journey ahead for all involved.”

“Robert’s strategic mindset and vast technological experience will be instrumental to Truespeed as we continue scaling up across the business,” said James Lowther, CEO of Truespeed. “A welcome addition to the team, Robert will further strengthen our already high-caliber leadership team and I look forward to working closely with him as we expand our network and continue building a better kind of broadband business.”

Mr. Purdy has joined the company to support the rapid scale up of the Truespeed business. “What drew me to Truespeed is how successfully it has grown and how well it’s situated in its current scale-up phase,” said Mr. Purdy. “With a strong leadership team, significant investor backing and ambitious growth plans, I’m excited to join a company that’s genuinely transforming the South West with the rollout of its ultrafast network.”  

With a background spanning 38 years in technology and telecommunications, Mr. Purdy joins Truespeed with a wealth of experience. He was previously with BT where he was director of consumer IT, responsible for delivering the BT, EE, and Plusnet brands across broadband, mobile, and television services. Prior to that, Mr. Purdy worked internationally for 20 years, leading IT and digital teams for major telecom brands including Orange, O2, and EE. His experience also includes being responsible for managing the technical integration of Orange and T-Mobile in the U.K.

Truespeed, a Bath, UK-based ISP is building a new 10Gpbs cable fiber-to-the-premises (FTTP) broadband network across the South West England. Its full fiber network covers over 60,000 premises, which it aims to double by the end of 2023. With ambitious growth plans, Truespeed’s network intends to pass 500,000 properties by the end of 2026. This is being support by a significant investment of £175 million from Aviva.

Founded in 2001 by Jeremy Mobbs and Ben Latreuille, Wilton & Bain provides executive search, interim management/consulting and technology resourcing services to the technology, professional services and converging digital markets. With offices in London, New York, Austin, Toronto, and Ireland, the firm has an expertise in technology to focus on digital transformation for clients across TMT, retail, consumer, financial services, insurance, and utilities.

A Second Management Buyout

Last year, Wilton & Bain secured investment from Beechbrook Capital to fund a second management buyout, bringing 12 new partners into the shareholding structure to support the future growth of the firm. There will also be a pool of unallocated equity for future individuals.

“Five years after Wilton & Bain’s initial MBO the firm has trebled in size and now takes another important step towards becoming a widely held partnership, with the support of our financial partners Beechbrook,” said Piers Marmion, chairman of Wilton & Bain. “This transaction endorses the resilience Wilton & Bain has shown and its rare growth prospects, recognizing the capability of its enlightened management and the strength of its compelling ownership culture, as it welcomes another 12 new partners as shareholders. As Wilton & Bain matures, unusually it is becoming more dynamic, driven by the collective force of partners who are now owners. Its prospects are exceptional.”

Beechbrook Capital, a specialist direct lender founded in 2008, invests in SMEs across a range of industries in the U.K. and Europe. By the end of June, the firm had raised more than €1 billion through eight funds and invested in 85 companies in the European lower mid-market, including 60-plus in the U.K. Beechbrook’s U.K. SME Credit funds provide finance to predominantly non private equity-backed SMEs in the U.K., investing between £5 million and £15 million per transaction.

Related: Wilton & Bain Appoints U.S. Advisor

Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media

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