ODRO’s £5.2 Million Capital Increase

Addleshaw Goddard advised BGF on the deal.
BGF has acquired an undisclosed, minority stake in the business to help accelerate a global expansion plan that will see the company opening offices in Australia and North America. 

The multimillion-pound funding from BGF – formerly known as Business Growth Fund – is Odro’s first major external funding round, the only other being £100,000 secured from a group of angel investors in 2015.

Headquartered in Glasgow and with more than 40 staff now on board, Odro boasts a rapidly expanding client base of household recruitment names including The Adecco Group, Robert Walters and Kelly Services. 

Since launching in 2015 with just two members of staff, Odro has doubled its revenue year on year and the investment from BGF will enable the firm to create 20 new roles over the next two years. 

Addleshaw Goddard’s advisory team was led by legal director, Laura Falls (Picture), with support from corporate finance associate, Sarah Dick.
Involved fees earner: Sarah Dick – Addleshaw Goddard; Laura Falls – Addleshaw Goddard; Law Firms: Addleshaw Goddard; Clients: Business Growth Fund;