ERA Group has received a significant investment from Horizon Capital; a leading investor in high-growth technology and business services companies. Horizon has acquired a majority stake in ERA Group and committed to investing £70 million to support our continued growth; both organically and through strategic acquisitions.
This is a significant milestone in the journey of ERA Group. Founded in 1992 by Fred Marfleet; ERA has grown into a global leader in cost optimisation; supply chain consulting and business intelligence; supported by an international network of over 1;000 consultants in more than 60 countries.
This investment will enable us to accelerate our next phase of growth under the leadership of CEO Mark Taylor. We will focus on scaling innovation; developing our digital platforms and attracting top talent; enabling us to better support our experts and clients with forward-thinking insights and measurable results. With Horizon's support; ERA Group will actively pursue targeted acquisitions and expand into new markets; opening up new growth opportunities within our global network.
We are also delighted to welcome Matthew Eatough; founder of Proxima and a respected expert in procurement and supply chain strategy; as our new Chairman of the Board. Matthew brings unique industry knowledge and will play a key role in shaping ERA's strategic direction.
"After more than 30 years in business; this is a significant opportunity to grow what makes ERA Group so special;" says Mark Taylor; Chief Executive Officer. "With Horizon's expertise and investment; we will be able to expand our global reach; develop our technology platforms and provide our network with the tools and insights to continue delivering Value through Insight™."
In Finland; ERA Group has established itself in the market as a leading expert organization in cost management. Since 2008; ERA has served hundreds of clients in the private and public sectors in Finland; helping them achieve cost savings in thousands of projects in categories such as transport; telecommunications; premises costs and production supplies. "This is also excellent news for the development of ERA Group's operations in Finland;" says Pekka Perttunen; Country Manager for Finland. "We will gain even better international support and reach for our operations; enabling us to comprehensively address the challenges faced by Finnish companies in terms of cost efficiency and structure."
