Founder Journey to Private Equity: The CellTech Story

For many founders, the decision to partner with private equity can be daunting, particularly given that for most of the businesses we invest in, it’s their first foray into institutional investment. However, taking on investment can also allow founders to share the strategic burden and accelerate their own growth plans, with the most successful partnerships emerging from a position of strength, when a business is performing well, momentum is building, and the opportunity ahead is too significant to tackle alone.

This is exactly the position that CellTech found itself in when its founders began exploring the next stage of growth. Having built a high-performing business with strong market demand, the question was no longer if they could grow, but how they could scale in a more structured, sustainable way.

We spoke to Jamie Green, Co-Founder of CellTech, about his recent experience partnering with Key Capital Partners. His perspective offers a clear, practical view of what it really means to take on a minority investment, from the early strategic thinking through to life after the deal.

What were the key moments or pressure points that made you begin thinking about bringing in a partner?

It wasn’t driven by pressure in the traditional sense, it was driven by opportunity and timing.

We’d reached a bit of a crossroads. The business was performing strongly, demand was growing, and we could clearly see a much bigger opportunity ahead. But at the same time, we knew that if we were going to scale properly, we couldn’t just keep doing more of the same, we needed to evolve.

That meant introducing more structure, better systems, and a more scalable way of operating. We understood what needed to happen, but we also recognised that bringing in the right partner would help us do that faster and more effectively.

Alongside that, we had built something valuable, and it made sense to realise some of that value, while still staying fully committed to the growth journey.

So, it became a proactive decision: take the business to the next level with the right support behind us.

When you explored your options, what made a minority investment the right route for you and the business?

A minority partnership was the natural choice because capital wasn’t the driver.

We were in a strong position and generating momentum. The goal wasn’t to fix anything, it was to unlock the next stage of growth while realising some value from what we’d built.

It was important for us to retain control and protect the entrepreneurial culture, but equally important to bring in a partner who could genuinely add value.

What stood out with Key was their ability to support that transition. We knew we needed to implement new systems and processes to scale properly, and having a partner who had experience in that and could actively support us through it, was incredibly important.

They’ve brought strategic input, structure, and a level of confidence that’s hard to quantify. Knowing you’ve got a partner alongside you who understands the journey and supports you properly is priceless.

Can you explain what your experience of the process was like, from those early conversations to getting the deal done?

From the very beginning, the process was centred around the partnership rather than the transaction.

All of the early conversations were focused on one thing, whether we shared the same vision. It wasn’t about numbers or deal structure at that stage, it was about alignment: where we saw the business going, how we planned to get there, and what success looked like.

Fortunately for everyone involved, that alignment was there from the outset. We were both seeing the same opportunities and recognising the scale of what could be achieved, not just in the short term, but over the long term as the business continues to evolve.

What really excites us is that this shared vision goes beyond just the two parties involved. We both see the potential for what this journey can mean for the wider team, the key people within the business who will grow with it over the coming years.

That level of alignment is rare. It’s not often that both sides see the opportunity in exactly the same way and are equally committed to delivering it. For us, that’s what made the process feel right and ultimately gave us the confidence to move forward together.

Now that the partnership is in place, what have been the biggest changes or benefits you’ve seen, for the business and for your role?

The biggest shift has been a clear and deliberate move towards building a truly scalable business.

We’ve embarked on a mission, not only to double the size of the business, but to create something that can scale well beyond that over time. To do that properly, we all recognise that it’s not just about growth, it’s about getting the fundamentals right.

That means building strong foundations, putting the right systems and processes in place, and ensuring everything is structured in a way that can support scale. But just as importantly, it’s about doing all of that without losing what makes the business special.

One of the key priorities for both us and Key is to protect the unique characteristics of the business, the culture, the personal feel, and the quality of service we’re known for. We don’t want to dilute that as we grow; we want to enhance it and deliver it consistently at a higher level.

We’re approaching this in a very strategic and methodical way. It’s not about rushing growth, it’s about putting the right building blocks in place so that when we scale, we do it properly and sustainably. Getting those fundamentals right is absolutely critical for all of us.

From a personal perspective, my role has evolved slightly. I’ve stepped back from the day-to-day operations to focus more on the strategic direction of the business and where we’re heading long term.

That shift has also created opportunities within the business. Key people in the team are stepping up, taking ownership, and playing a bigger role in driving the business forward. Ultimately, they are the ones who run the business day-to-day, and they will be instrumental in continuing to grow it over the years to come.

We founded the business, but building something of this scale is about empowering the right people around you, and that’s exactly what we’re doing.

When Should You Start Exploring?

One of the most important, and often overlooked, considerations is timing. The best time to begin exploring private equity isn’t when you need capital, it’s typically 12 to 24 months earlier.

That window allows founders to strengthen internal reporting and governance, clarify strategic priorities, and build trusted relationships with advisors and investors well before any formal process begins.