IT specialist builds war chest for future acquisition strategy

David Goldie

A Manchester IT specialist has raised a significant acquisition debt facility to support its buy and build strategy.

BCN Group has also welcomed industry expert David Goldie, in the role of chairman, to its board, which is backed by Wilmslow-based Beech Tree Private Equity.

Located next to Manchester Airport, BCN Group is a fast-growing provider of IT managed services to UK businesses.

The new acquisition facility, provided by NatWest and led by Mike Malone (director structured finance) and Emily Smithies (senior manager, TMT) will give BCN the firepower to supplement its organic growth with several strategic bolt-on acquisitions to increase both the scale and the breadth of the group’s service offering.

Chief executive Simon Kelf said: “We all welcome David to the board, his experience around executing buy-and-build strategies will be a great help as we deliver our strategy.

“We are looking at several potential acquisition opportunities already which will enable us to provide an even broader portfolio of products and solutions to our clients and an increased level of opportunity for our staff.”

He added: “This committed facility will support our strategy and enable us to move faster when assessing strategic acquisition opportunities.

“I look forward to hopefully announcing our first deal in the not too distant future.”

David Goldie said: “I am delighted to have joined the board of BCN, the team have created a very successful IT managed service business with a real focus on customer service.

“I am looking forward to working with the team and Beech Tree Private Equity to pursue the buy-and-build strategy.”

Richard Smart, managing director, head of regional structured finance, NatWest, said: “This is another great example of our ability and desire to support high growth, high potential SME’s achieve their strategic growth ambitions.

“We very much look forward to working alongside BCN to help them deliver on their exciting future plans.”

BCN and Beech Tree Private Equity were advised by debt specialists Clearwater International and DLA
Piper.

Natwest was advised by Addleshaw Goddard.

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