Tactus Group eyes further growth after seven figure fillip from fund manager
Warrington-based technology company Tactus Group will be able to accelerate its ambitious growth plans following a seven-figure investment from London fund manager Downing.
The investment from Downing was made alongside a £10m injection of private capital from multi-family investment office Arete Capital Partners, which has a Liverpool and Manchester presence, and enabled Tactus to complete its acquisition of CCL, a Yorkshire-based e-commerce PC gaming specialist.
It will also support future fundraising for the wider group as it targets more acquisitions across the UK and globally.
Tactus specialises in gaming, education and entry level computing. The group holds strong relationships with leading corporate technology businesses, such as Microsoft and Intel.
Having generated significant organic growth in recent years, combined with the CCL acquisition in April 2021, Tactus is on track to hit revenues of £175m by fiscal year 2022. The firm has grown headcount significantly in the past 12 months, taking it from 20 people to a 115 strong team.
Scott Brenchley, Tactus Group chief executive, said: “With the strategic backing from Arete and Downing, we are well positioned to continue to build on Tactus’s success in the years to come.
“Completing the CCL acquisition was a significant first step for us on our M&A journey, and the support we have received from both Arete and Downing was vital in getting us to this position. We look forward to continuing to build on our great relationship with the team at Downing as we continue on our growth journey.”
Founded in 1986, Downing is an FCA-authorised and regulated investment manager with more than 30 years’ experience. It currently has in excess of £1.4bn of funds under management.
Judith MacKenzie, head of Downing Fund Managers, said: “Tactus Group operates in an incredibly exciting market and we’re delighted to add them to our growing portfolio.
“The company is well positioned to capitalise on the opportunities in the gaming space, which has emerged as one of the world’s fastest growing sectors in recent months, and we were pleased to be part of the CCL acquisition.
“Our investment will support Scott and the wider team through organic growth and acquisitions, as well as using our experience and network to advise on future fundraisings.”
Mike Fletcher, joint managing partner at Arete Capital Partners, said: “The addition of Downing as a joint investor alongside Arete gives Tactus an even brighter future.
“Downing demonstrated a deep understanding of the Tactus opportunity and has shown a great enthusiasm to support the company’s ambitious growth plans. We’re really looking forward to working with Judith and the team in executing Scott’s vison for the future of Tactus.”
