Track record

A proven track record of investing and creating value.

rdc acquisition

Inpulse

UK-based employee engagement AI and software. Pulse surveys, 360 reviews and AI insight help employers understand how their people feel at work. Acquired off-market by rdc in November 2023. Andrew led the business as CEO and now chairs the board.

+50%ARR since 2023

30%+EBITDA margin

90%+Gross margin

93%Gross retention

105%Net retention

Financing

rdc structured and raised the acquisition financing: senior bank debt alongside preferred equity from private investors, with the founder rolling part of their proceeds.

Growth

ARR is up 50% since acquisition, by creating a predictable, repeatable sales motion. Growth has accelerated since the appointment of a new CEO and Head of Marketing.

Product

New modules include 360 reviews, AI insight and correlative and predictive analytics, delivered by an in-house development team with faster releases and closer customer communication.

Team

Investing in a professional management team and the culture has led to better outcomes across each discipline, creating a flywheel effect. A new CEO is in place, with Andrew as Chair.

Exit-ready

A broader buyer universe: hiring a second tier of management and a professional CEO makes Inpulse credible to both strategics and PE. Board-ready KPIs give any potential buyer the information they need, at any time.

Inpulse figures are unaudited management figures as of October 2026.

How we create value

Our value creation playbook

We combine capital with hands-on operating experience. These are the six levers we used at Inpulse, and the ones we bring to every business.

Management depth

Finding the best people for the right roles, and helping them perform to the best of their abilities. Excellence is critical to any successful business. At Inpulse that meant five functional heads, then a new CEO.

Commercial acceleration

We evaluate the go-to-market function, differentiation and team, benchmark against peers, and decide how to allocate resources to drive the most value. At Inpulse, ARR grew 50% in three years.

Reporting and governance

Monthly KPIs, a proper finance function and an active board from day one, so decisions are made on good information.

Culture and incentives

A culture of transparency, accountability and performance, built on respect and integrity. Management rolls equity and ownership extends to the wider team.

Buy and build

Committed follow-on capital to acquire complementary businesses, so add-ons close quickly.

Exit readiness

A larger, professionalised business with clean data and a strong team, ready for the next owner whenever the time is right.

Transactions

Selected transactions

Inpulse was acquired by rdc. The other transactions were completed at previous firms and supported by members of the rdc team, but are not attributable to rdc.

Undisclosed

Acquisitionrdc · 2023Read the case study ↑