DigiPoS Enters the
Fast Track Top 100
Digipos Store Solutions Bucks the Trend in Retail IT Downturn
9th February 2009
DigiPoS Store Solutions has been listed on the Sunday Times Fast Track Top 100 Companies backed by Private Equity.
DigiPoS Store Solutions Group has seen an annual profit growth of approximately 30%. The retail giant Next recently employed DigiPoS to implement a new point-of-sale system across its 380 stores in Britain and Ireland. Founded in 1994, DigiPoS provides such systems to retailers in 16 countries. Its clients include Vision Express, Harrods, WH Smith and CostCutter.
Barclays Private Equity backed a £35m primary buyout from original parent company PC-PoS in August 2003. Led by founder and Chairman Graham Worsfold, the company has seen profits grow 30% a year from £3m in 2005 to £5.1m in 2007.
Graham Worsfold, Executive Chairman at DigiPoS Store Solutions Group comments:
“This recognition as a Fast Track 100 entrant is a testament to the hard work and dedication of our international team and also to the technological innovation and leadership of our Research and Development. DigiPoS has remained focused on its core market strength for 15 years and has provided retailers around the world with technological solutions that offer a truly global capability using leading edge designs. The opportunities for new technology and advanced solutions as we move to wireless and web based retailing era creates even more growth drivers in our sector and I am certain the DigiPoS team will remain at the forefront of this new and exciting market and deliver even faster growth in the coming years.”
The list, compiled by Fast Track and published by The Sunday Times is generated from a survey measuring the performance of portfolio companies by profit growth over the latest two financial years. Fast Track ranks businesses with the fastest-growing profits under £50m, in which private equity holds a stake of at least 20%. In the final three months of last year, UK private equity-backed buyouts fell to a 13-year low, with a value of £1.1 billion spread across 91 deals, down from £5.7 billion over 154 transactions in the last quarter of 2007, according to the Centre
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