Today, I-TRACING and Bridewell, have announced a strategic partnership to create a strategic partnership to create the leading independent European cyber security services provider. The partnership is backed by the founders and managing partners of I-TRACING—Theodore Vrangos, Michel Vujicic, and Laurent Besset—along with co-control investors Oakley Capital and Eurazeo, and Anthony Young, Bridewell’s founder, supported by the management teams of both companies. Sagard NewGen will also reinvest in the transaction. The deal is subject to regulatory clearances.
This alliance unites market leaders from two of Europe’s largest economies, establishing a cyber security powerhouse to protect enterprise and mid-market clients globally amid escalating cyber threats.
Both I-TRACING and Bridewell prioritise high-quality service, customer satisfaction, and technical expertise. Their shared vision is to build a premier European cyber security firm with local expertise and accreditations while providing access to a global network.
Founded in Paris in 2005, I-TRACING is France’s leading managed cyber security services provider (MSSP), offering end-to-end security solutions to blue-chip clients. Its differentiated approach includes a 24/7 security operations centre (SOC) and an international ‘follow-the-sun’ model. Operating in France, Canada, Hong Kong, Malaysia, China, and Switzerland, I-TRACING employs over 700 cyber security professionals worldwide.
Bridewell, established in Reading in 2013, has grown rapidly into the UK’s leading independent cyber security firm. It delivers managed and professional cyber security services across Information Technology (IT) and Operational Technology (OT) environments, covering architecture and design, governance, risk and compliance, fully managed SOC, penetration testing, and data privacy. Bridewell specialises in securing Critical National Infrastructure (CNI) and complex enterprises. With operations in the UK and USA, it employs over 300 professionals globally.
Under shared ownership, the combined entity will become Europe’s leading pure-play cyber security services group, accelerating expansion across Europe and the USA and attracting top cyber security talent. The firms will leverage Oakley Capital, Eurazeo, and Sagard’s global networks, industry expertise, and financial backing to execute growth strategies, including further M&A activity.
The partnership offers opportunities for enhanced collaboration, such as international mobility for consultants, expanding services to Fortune 500 clients, integrating I-TRACING’s ‘follow-the-sun’ MSSP model, sharing Bridewell’s expertise in CNI security, Threat Intelligence, and OT, developing AI security solutions, and scaling operations in North America and Asia.
GCP invested in Bridewell in March 2021 through a minority partnership to support its leadership team, including Anthony Young and Scott Nicholson, in executing ambitious growth plans. GCP’s sector expertise and strategic approach have enabled Bridewell to enhance leadership, talent acquisition, systems, and processes while refining its go-to-market strategy, developing proprietary technology, driving M&A, and expanding into the USA.
Bridewell Founder and CEO Anthony Young said: “Bridewell has had fantastic growth over the last 12 years to become a leader in the UK cyber security market and we are now all really excited about growing internationally and being able to support more companies around the world at a time of increased international tensions. I-TRACING and Bridewell, as clear leaders in their markets, backed by the ambitions of Oakley Capital, Eurazeo and Sagard, will ensure we are able to protect more organisations and create a clear leader in the cyber security space. I would also like to thank GCP for their invaluable support over the last four years. They understood our business, and their focus on partnership, sustainable ambitious growth and people development has aligned perfectly with our culture as we scaled.”
Ravi Monteiro, Partner, GCP, said: “The growth of Bridewell over the past four years has been exceptional. It has been a pleasure working with Anthony, Scott, Ruth, Martin, Ben and all the Bridewell team as they continued to build a fantastic business with an incredible culture of going above and beyond for employees and customers alike. We are proud to have supported Bridewell in becoming one of the UK’s leading cyber security services businesses, well set for continued growth.”
Richard Shaw, Partner, GCP, added: “We thank all the Bridewell team for their outstanding performance and are delighted to have been able to work in partnership to support the business with our range of strategic growth initiatives tailored to fast growth knowledge economy businesses. Joining forces with I-TRACING will now enable Bridewell to take its leading cyber security services proposition to the world stage and we wish the combined group the very best of future success.”
Theodore-Michel Vrangos, Co-Founder and President, I-TRACING said: “It is a great honour to welcome Anthony into our partnership. Bridewell as well as I-TRACING are huge success stories. We are sharing common human values, not only professional but also personal, and we all have this tremendous ambition of building the number one cyber security independent services group in the world.”
Peter Dubens, Co-Founder and Managing Partner, Oakley Capital said: “Cyber security services has been a sector we have been focused on for many years, due to its attractive, long-term fundamental growth drivers. We are therefore pleased to now have this opportunity to bring together Bridewell with our current partners I-Tracing, to create this leading, premium, pure-play cyber security services platform. We are looking forward to working alongside Theodore and Anthony for this next phase in their development.”
Pierre Meignen, Partner, Head of Eurazeo Small-Mid Buyout said: “Eurazeo has built a strong partnership with the I-TRACING team over the past four years, and supported the group in its journey to form a European cyber security pure-player. We believe I-TRACING and Bridewell share a very compatible DNA as leading cyber security consulting and MSSPs in their respective countries. With this transaction, we are very proud to become a reference shareholder of the leading independent European cyber security pure player. We are happy to welcome Bridewell’s founder and management and look forward to the next chapter.”
