Wed, 27 Mar 2024 | BUSINESS SALE
Everything Tech Group, an acquisitive Manchester-based managed IT services company, has completed its latest acquisition after securing new funding to support its continuing growth strategy.
The company has acquired Burnley-based outsourced host solution provider Cardium Outsourcing Limited, which traded as Your Office Anywhere. The acquisition comes after the group secured funding from NatWest to support further acquisitions.
Everything Tech Group was founded by Mark Allen and Phil Smith in 2021 as MITSG. In February 2022, the company secured funding from Boost & Co and completed four acquisitions over the remainder of the year: IT Farm; the CSS Group; cloud comms specialist Nexbridge Communications; and Everything Tech.
Commenting on the acquisition of Cardium Outsourcing, Everything Tech Group co-founder and CFO Mark Allen said: “It’s not just enterprise customers who need visibility, cost control and security from cloud platforms. We felt this presented an excellent opportunity to extend our products further and was an excellent fit for Everything Tech. It will bolster and enhance our existing portfolio.”
Regarding the new funding, Allen said it would “underpin” the company’s strategic approach, “enabling us to deliver our growth plans at an accelerated pace.”
He continued: " Armed with this investment, we will continue to grow both organically and through M&A during 2024 and beyond, aligning with our clear business objectives and vision for the future. The immediate M&A growth this investment will finance allows us to scale up faster and amplify our current growth further.”
Tom Murray, vice-president of UK Financing Solutions at NatWest, said: “At NatWest, we are proud to champion ambitious businesses by providing smart financing solutions that unlock strategic growth opportunities for our clients. This is a great example of a flexible investment that will support Everything Tech Group, as the business goes from strength-to-strength.”
While M&A financing conditions are tough, there are a wide array of funding options available to firms seeking to grow acquisitively
This well-established company offers fully managed IT solutions with a focus on enhancing productivity and safeguarding operations, supported by cutting-edge technology and a skilled team. With strong client retention and room for geographic expansio...
This well-established IT services business offers a robust portfolio including IT support, broadband, and software licensing, with strong partnerships with top manufacturers like HP, Samsung, and Apple. It boasts a solid customer base with a high ret...
This opportunity offers an innovative platform designed for secure management and recording of digital assets via a modular, data-agnostic ledger and blockchain orchestration. Please be aware that the closing date for this opportunity is set for Frid...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.