Tic Bidco Limited
Registered name: TIC BIDCO LIMITED
Part of Tic Holdco Limited groupTic Bidco Limited made £643m revenue and a £67.3m loss in the year to 31 Dec 2025.
Tic Bidco Limited’s revenue grew 29% to £643m in the year to 31 Dec 2025, with a loss of £67.3m. The company is classified under “activities of other holding companies” and is based in London; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 4 yrs · since 2022
- Type
- Private Limited Company
Pass-through vehicle. This looks like a holding, staffing or umbrella company. Its revenue and profit may largely pass through to or from other entities, so the figures may not reflect a standalone operating business. It is excluded from our opportunity lists.
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2023 | 31 Dec 2024 | 31 Dec 2025 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £370m | £498m | £643m |
| Cost of sales | −£114m | −£267m | −£349m |
| Gross profit | £256m | £231m | £294m |
| Operating profit | −£40.3m | £24.2m | £25.2m |
| Profit before tax | −£118m | −£100m | −£84.2m |
| Profit after tax | −£102m | −£85m | −£67.3m |
| Profit (best available) | −£102m | −£85m | −£67.3m |
| Employees (average) | — | — | — |
| Ratios | |||
| Profit margin | −27.5% | −17.1% | −10.5% |
| Gross margin | 69.1% | 46.3% | 45.8% |
| Growth (year on year) | |||
| Revenue growth | — | ▲34.6% | ▲29.2% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Jun 2025 | Accounts · bulk data Jun 2025 | Accounts · bulk data May 2026 |
How the business works
- Profit margin
- −10.5%
- Profit ÷ revenue.
- Gross margin
- 45.8%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- —
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- —
- Now —
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Tic Holdco Limitedultimate parent75–100%
- Tic Midco Limited75–100%
- Tic Pledgeco Limited75–100%
- Tic Bidco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (4)
- Phenna Group European Holdings LimitedFigures not disclosed
- Phenna Group Treasury LimitedFigures not disclosed
- Project C Topco LimitedFigures not disclosed
- Puma Topco LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Dec 2025 (profit −£67.3m), from the Companies House accounts bulk data published May 2026. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.