Fri, 07 May 2021 | BUSINESS SALE
Managed services provider Kerv Group has completed the acquisition of digital transformation firm cloudThing, the group’s fifth takeover in under a year. Following the acquisition, Kerv Group has now increased its combined revenue to £35 million. The acquisition was partly funded through a recent £70 million credit facility.
Kerv was founded through the acquisition and merger of three cloud companies, Metaphor IT, Foehn and DoubleEdge Professional Services, in July 2020 by Alastair Mills, founder of Six Degrees. Since then Kerv has moved to acquire UCNS Managed IT, before making cloudThing its biggest acquisition.
Kerv Chairman Alastair Mills called the cloudThing acquisition a “significant step” for the group and “a major investment in the rapidly growing digital transformation market.” The company says it will target organic growth while continuing to target acquisitions that add new capabilities, enhance its cloud and digital credentials or provide “new vertical opportunities.”
Alastair Mills added: We are combining our existing cloud managed services and infrastructure transformation capability with cloudThing's digital transformation proposition thanks to their combination of DevOps, Data Science, and software engineering services.”
"Every aspect of cloudThing - from its strong organic growth model, culture, people, leadership and approach to customers - makes it an ideal fit for the Kerv Group."
Following the acquisition, cloudThing will continue operating as usual, but as a division within the wider group. The firm’s founders will remain with the company, while COO Stuart Harper will become cloudThing CEO. Harper will also join the management team at Kerv, along with Chief Customer Officer Mike Wrout.
Harper commented: "Kerv offers something genuinely unique, a group of complementary cloud and digital organisations that are experts at what they do, given further scale and enhanced capabilities as part of the group.”
"Kerv's commitment to organic growth, underpinned by a focus on customer experience and employee engagement is central to our own culture and our belief in the mission of the group as a whole.”
Find businesses for sale here.
If you are looking for an exit, we can help!
This rapidly growing wellness technology business, based in the West Midlands but operating nationwide, specialises in alternative therapy equipment for the burgeoning health, recovery, and longevity sectors.
This energy and ESG proptech provider offers an exciting opportunity to partner with a company poised for significant growth in the UK and EMEA region by transitioning to a SaaS model.
An exciting opportunity to acquire a London-based audio technology business with a portfolio of coveted patents is now available.
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.