In a significant development within the cyber security industry, I-TRACING and Bridewell have officially announced a strategic partnership to establish the leading independent European cyber security services provider. This groundbreaking alliance has been endorsed by the founders and managing partners of I-TRACING, namely Theodore Vrangos, Michel Vujicic, and Laurent Besset, in collaboration with co-control investors Oakley Capital and Eurazeo. Additionally, Anthony Young, the founder of Bridewell, along with the management teams of both companies, are also actively involved in this partnership. Sagard NewGen will be reinvesting in the transaction, subject to regulatory clearances.
The core objective of this partnership is to bring together two prominent market leaders from France and the UK to create a formidable cyber security entity that can effectively safeguard enterprise and mid-market clients worldwide amid the growing threat of cyber attacks. Both I-TRACING and Bridewell share a common commitment to delivering high-quality services, ensuring customer satisfaction, and offering superior technical expertise. This shared vision aims to establish a premier European cyber security firm that combines local knowledge and certifications while facilitating access to a global network.
Founded in Paris in 2005, I-TRACING has emerged as a leading managed cyber security services provider (MSSP) in France, offering comprehensive security solutions to top-tier clients. The company’s distinctive approach includes operating a 24/7 security operations centre (SOC) and implementing an international ‘follow-the-sun’ model. With a global presence in countries such as Canada, Hong Kong, Malaysia, China, Switzerland, among others, I-TRACING boasts a team of over 700 cyber security professionals worldwide.
On the other hand, Bridewell, established in Reading in 2013, has swiftly risen to become the UK’s premier independent cyber security firm. Specializing in managed and professional cyber security services across Information Technology (IT) and Operational Technology (OT) environments, Bridewell covers a wide array of areas including architecture and design, governance, risk and compliance, fully managed SOC, penetration testing, and data privacy. The company focuses on securing Critical National Infrastructure (CNI) and complex enterprises and operates in both the UK and the USA with a total workforce of over 300 professionals globally.
With shared ownership, the unified entity is set to become the leading pure-play cyber security services group in Europe, accelerating its expansion across Europe and the USA while attracting top-tier cyber security talent. Leveraging the collective expertise and financial backing of Oakley Capital, Eurazeo, and Sagard, the companies plan to implement strategic growth initiatives, including potential M&A activity to further strengthen their market position.
The partnership also opens up new avenues for enhanced collaboration between the two entities, including opportunities for international mobility for consultants, extending services to Fortune 500 clients, integrating I-TRACING’s ‘follow-the-sun’ MSSP model, leveraging Bridewell’s expertise in CNI security and Threat Intelligence, developing AI security solutions, and scaling operations in North America and Asia.
Establishing its foothold in the cyber security sector, GCP invested in Bridewell in March 2021 through a minority partnership to support the company’s leadership team in realizing ambitious growth plans. GCP’s strategic guidance and sector expertise have played a crucial role in enhancing Bridewell’s leadership, talent acquisition strategies, operational systems, go-to-market approach, technology development, M&A activities, and expansion into the US market.
Sharing his thoughts on this transformative partnership, Bridewell Founder and CEO Anthony Young expressed his excitement for expanding globally and providing support to organizations worldwide during a period of increased international tensions. He highlighted the collective strength of I-TRACING and Bridewell, underpinned by the shared vision of Oakley Capital, Eurazeo, and Sagard, in ensuring the protection of more organizations and establishing a clear leadership position in the cyber security realm. Young also extended his appreciation to GCP for their unwavering support over the years, emphasizing their shared values and commitment to sustainable growth and talent development.
Ravi Monteiro, Partner at GCP, commended Bridewell for its remarkable growth trajectory over the past four years and expressed pride in the partnership with the company’s leadership team. He lauded the Bridewell team for their dedication to building a strong business with a customer-centric culture and underscored GCP’s support in positioning Bridewell as a key player in the UK’s cyber security services landscape.
Richard Shaw, Partner at GCP, echoed similar sentiments, thanking the Bridewell team for their exceptional performance and emphasizing the collaborative efforts in driving strategic growth initiatives aimed at propelling the company towards continued success. He expressed confidence in Bridewell’s ability to leverage the partnership with I-TRACING to expand its leading cyber security services proposition globally, wishing the combined group continued success in the future.
Reflecting on this monumental partnership, Theodore-Michel Vrangos, Co-Founder and President of I-TRACING, expressed his delight in welcoming Anthony Young into their partnership. Recognizing the success stories of both I-TRACING and Bridewell, Vrangos highlighted the shared values and mutual ambition of building the premier independent cyber security services group on a global scale.
Peter Dubens, Co-Founder and Managing Partner of Oakley Capital, emphasized the long-term growth prospects of the cyber security services sector and underscored the significance of bringing together Bridewell with their existing partner, I-TRACING, to establish a leading cyber security services platform. He expressed enthusiasm for collaborating with Theodore and Anthony in shaping the next phase of their development journey.
Pierre Meignen, Partner and Head of Eurazeo Small-Mid Buyout, reflected on the strong partnership forged with the I-TRACING team over the past four years and highlighted the alignment in values between I-TRACING and Bridewell as top cyber security consulting and MSSPs in their respective regions. With the transaction marking a key milestone in forming the leading independent European cyber security services provider, Meignen reaffirmed Eurazeo’s commitment to supporting the combined entity and looked forward to the upcoming chapter of growth and innovation.
In conclusion, the strategic partnership between I-TRACING and Bridewell signals a transformative moment in the cyber security industry, as two leading players join forces to create a pioneering entity with global reach and capabilities. With a shared commitment to delivering exceptional services, ensuring customer satisfaction, and driving innovation, the combined entity is well-positioned to navigate the evolving cyber threat landscape and establish itself as a prominent player in the international cyber security domain. The backing of esteemed investors and the collective expertise of the management teams from both companies further strengthen the foundation for sustained growth and success, paving the way for a new era of advancement and excellence in cyber security services.