Exponent invests in UK tech company Bullitt

Exponent has made an undisclosed investment in UK-based tech company Bullitt Group. Also, Bullitt has named Pieter Knook as chairman.

PRESS RELEASE

(Reading, UK), 25th September 2017. Bullitt Group, one of the fastest growing technology companies in the UK announces today the appointment of Pieter Knook as Chairman. Pieter will work closely with CEO Peter Stephens and the Board of Bullitt Group to continue the Group’s international development and growth.

Pieter has deep experience across the tech and communications sector. He spent 18 years at Microsoft and was one of its top 25 executives running Microsoft Asia and most recently the Microsoft Communications Business with responsibility for the Windows Mobile product business. At Vodafone Group Pieter was responsible for the development of all consumer and was responsible for the launch of Vodafone 360. Pieter also sits on the boards of several technology businesses including leading Danish communications provider, TDC and hosting and cloud provider, Pulsant. He is Chair of Matiliion Ltd, a company that builds big data tools for the Amazon Cloud, a trustee for Lunar Mission One and an angel investor through Cambridge Angels.

Pieter commented: “Bullitt Group is at a key stage of its growth and development and I’m excited to bring my experience to this fast moving company and advise on the strategy going forward. The business has seen sustained growth and international expansion over the past eight years and I’m looking forward to working with Peter Stephens and the team to build on this impressive track record.”

Peter Stephens, CEO, Bullitt Group commented: “We are excited to welcome Pieter on board. His deep tech and communications experience will be invaluable as we continue on our journey. Bullitt Group saw a 36% increase in revenues in the year 2016/17, with particular growth in the rugged smartphone market and we expect revenues to increase further this year. We would also like to thank Keith Pacey who now steps down as Chairman, for his invaluable contribution to Bullitt’s story”

Pieter Knook’s appointment comes alongside an investment in Bullitt Group from British private equity firm, Exponent. Bullitt’s co-founders; Colin Batt, Dave Floyd and Richard Wharton maintain stakes in the business alongside the Business Growth Fund (BGF) who invested in the Reading based business in 2013.

Under Exponent’s ownership, the management team will continue to be led by Peter Stephens, CEO Bullitt Group, as they deliver on the core growth strategy, particularly in terms of the internationalisation of the business and the extension into new segments, products and services.

Bullitt works with some of the world’s most recognisable brands including CAT, Kodak and Land Rover, enabling them to reach new markets through innovative technologies. There are strong opportunities to take these brands further, add new brands to the portfolio and for further global growth.

Since its formation eight years ago, Bullitt Group has designed, manufactured and distributed millions of mobile phones, audio products, other connected devices and related peripherals to more than 60 countries across the globe.

About Bullitt Group
Bullitt Group enables the world’s leading brands to enter into rapid growth consumer technology categories creating broader appeal and new, long-term income streams in the process.

Since its formation in 2009, Bullitt Group has designed, manufactured and distributed millions of mobile phones, audio products, other connected devices and related peripherals to more than 60 countries across the globe. Bullitt is the global licensee for Cat (Caterpillar Inc.), Kodak and Land Rover for mobile phones and related peripherals.

Bullitt Group’s Head Office is in Reading, England with additional office locations in Taipei (Taiwan), Shenzhen (China), New York (USA).