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Exponent Private Equity invests in Bullitt Group

Connected devices & services for specialist consumer segments.

London, 14 September 2017 - GP Bullhound, the European technology investment bank, acted as the exclusive financial advisor to BULLITT GROUP on investment from EXPONENT PRIVATE EQUITY, a leading private equity investor in the UK mid-market with a track record of building British businesses that are successful across the world.

Founded in 2009 and headquartered in Reading with offices in New York, Shenzhen and Taipei, Bullitt Group designs, develops, markets and sells connected devices and services for specialist consumer segments. The business has longstanding manufacturing partnerships with original device manufacturers (ODMs) and a global network of distribution relationships with resellers, mobile operators and retailers. Bullitt is a leader in the rapidly growing rugged segment with a portfolio of CAT branded smartphones including the flagship S60, the latest in a series of world’s first technological innovations through its integrated thermal imaging sensor.

Rich Wharton, Co-Founder of Bullitt Group commented: ”Securing the backing of an established PE investor like Exponent is a milestone for Bullitt as it becomes a global leader in its sector, and the next step on the journey we started in 2009. GP Bullhound were instrumental in helping us find the right partner, and showed great commitment and belief in the business throughout the process.”

Chris Graves, Director at GP Bullhound commented: “Bullitt’s business model is central to its success, bringing together engineering and logistics expertise with creative design and insight, super serving specialist segments at volume. The business is well placed to become a global leader and we believe Exponent are the right partner to support the next phase of growth.”

The transaction represents GP Bullhound’s 11th private equity transaction in 2016/17, following on from recent successful transactions including those completed for clients such as Bizagi, Media iQ, Infinigate, RatePAY, LendInvest and EcoVadis.

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