Monday, April 22, 2024

Acquisitive IT firm secures investment for growth

Managed IT service provider Everything Tech Group has expanded its strategic growth plans following an investment deal with NatWest.

The funding will support Everything Tech Group’s growth strategy and the first acquisition following the NatWest investment has been secured.

Everything Tech Group has completed the purchase of North West-based outsourced hosted solutions business, Cardium Outsourcing Limited, which has traded as Your Office Anywhere.

Mark Allen, CFO & Co Founder of Everything Tech Group, said: “The support from Max Ward at independence Capital alongside NatWest underpins our strategic acquisition approach, enabling us to deliver our growth plans at an accelerated pace.

“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.”

On the acquisition of Cardium Outsourcing Limited, Mark 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.”

Tom Murray, Vice President of UK Financing Solutions at NatWest, said: “We are delighted to have supported Everything Tech Group with our recent investment and look forward to continuing to work with them.

“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.”

With offices in Sheffield, Derby and Manchester, Everything Tech Group — which started life as MITSG — was founded in 2021 by Mark Allen and Phil Smith.

It has grown rapidly following a series of acquisitions through a secured investment from BOOST & Co in February 2022 and went on to complete four acquisitions that year, including IT Farm, the CSS Group, cloud communications specialist Nexbridge Communications and finally Everything Tech.

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