ICT business secures acquisition war chest
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An ICT company has secured a multimillion-pound funding deal in support of its aggressive acquisition strategy.
The eight-figure funding package supports the Stratford-upon-Avon-headquartered information and unified communications services firm’s plan to acquire several more companies over the next two years.
The funding from Santander follows BDR Group’s three acquisitions earlier this year of managed IT services and provisions companies ACR, Boffins and Integratech.
BDR Group works with the private and public sectors, supporting digital transformation with the provision of: infrastructure; connectivity; unified communications; IT managed services; broadband and business mobiles; and installation and maintenance of security systems and networking equipment.
BDR Group was founded in 1991 by Bahman Rahimi, the current chief executive officer, starting out with a staff of four.
Over the past 11 years, the business has grown organically and through several acquisitions, increasing its staff to 180, and now has offices in Stratford-upon-Avon, Maidstone and Swindon.
In the past four years, BDR Group has quadrupled its revenue to £28m and is on target to exceed revenue of £40m in 2022.
Rahimi said: “The team at Santander UK, including its Relationship Director, Craig Kelly, and Growth Capital Director, Simon Clewlow, has always proactively backed our business and growth ambitions with complete confidence, investing time to understand our strategy and vision for the future. The bank has become a valued long-term partner that we look forward to continuing to grow with.”
Simon Clewlow, growth capital director, Santander UK said: “The IT services and telecoms sectors are rapidly changing, and over the past decade BDR Group has been at the forefront of industry consolidation, creating an outstanding group of companies that offer holistic and wide-ranging services. We are delighted to support BDR Group through the next phase of its buy-and-build strategy, providing facilities that will assist its entrepreneurial ambitions in coming years.”