Incremental Group

Deal Type

Initial Investment
December 2016


Private Equity
Growth Capital


In December 2018 Maven exited from its holding in Incremental Group, delivering a 4.1x return for Maven Investor Partners. The business provides a range of digital services including Microsoft Dynamics ERP, consultancy and analytics to the public, financial, and energy service sectors across the UK. The business delivers a complete IT solution for companies including project management, systems development and integration, infrastructure design, and technology consultancy.

During the time of Maven’s investment Incremental grew to become one of the largest Microsoft Dynamics Partners in the UK, working with a range of blue-chip clients including Aggreko, Total and Scottish Leather Group. At the time of exit revenue across the Group had risen 60% to £6.6 million and EBITDA by 100% to £1 million.

In March 2022 Telefónica Tech acquired Incremental, a leading digital transformation and data analytics company for up to £175 million. 


Incremental Group

Generating a 4.1x return in just two years stands as a testament to the Incremental management teams’ ability and ambition to build a successful digital services business, but also Maven’s capability to support entrepreneurial smaller businesses and help them achieve their growth aspirations.

Julie Glenny, Investment Director at Maven

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