Private Equity-Backed Air IT Acquires Pair of UK Service Providers
These are deals 513 and 514 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
Air IT Acquires Another Pair of UK Service Providers
This is the second pair of acquisitions announced by Air IT in as many months. In October, the company announced the acquisitions of London-based Netstar and Birmingham-based Microtrading.
The addition of Riverbank IT and Nexus GS will help Air IT expand its operations into the Coventry and Oxford areas of the UK and expand the company’s overall headcount to 175, the company said.
Air IT was founded fifteen years ago by Todd McQuilken who, earlier this year, sold the company to August Equity Partners. Since then, the private equity firm has pursued a growth-through-acquisition strategy as it seeks to grow Air IT into the largest SME cloud focussed MSP in the UK, according to a statement.
Air IT’s Acquisitions: Executive Insight
John Whitty, CEO of Air IT, commented:
“Following the recent acquisitions of Netstar and Microtrading, we are very excited to be able to welcome the Riverbank and Nexus GS teams to the Air IT family. Both businesses bring significant value to the table and will be integral in helping us realise our plans to grow and cement our position as the outsourced IT services partner of choice to the SME community in the UK. Both are highly accredited and mature MSPs and will be a great fit for the Air IT group with very similar values, culture and passion for helping clients become more successful, efficient and secure through the adoption of performance enhancing technology.”
Marc Juffkins, managing director and founder of Riverbank IT, said:
“Riverbank has always been committed to providing the very highest standards of service and support to our clients, and we look forward to helping our customers realise the joint benefits that being part of the Air IT group will bring, including access to a broader range of business enhancing services such as managed cyber security and Business Intelligence (BI) as a service.”
Justin Huckfield, the founder and managing director of Nexus GS, added:
“We’re all delighted to join the Air IT group. They have an excellent reputation and track record. Its investment in support systems and breadth of expertise will enable Nexus GS to better serve and meet the ever-changing needs of our clients. It’s clear that Air IT shares a similar ethos as Nexus GS with people and client-centric values at the core of its operations.”
Mehul Patel, partner at August Equity, commented:
“We are excited to see the Air IT team continue on their growth journey, adding four new businesses to the group within months of each other. We will continue to use the knowledge and network we have built over time to assist the management continue to develop the UK’s largest SME cloud service provider.”