Investor backs MBO at IT services firm
David Smith (CEO) and Gareth Leece (COO) have completed an MBO of Dynamic Networks, working with Paul Landsman of Kingland Capital.
The MBO provides for a simplification of the Board structure to allow for its continued accelerated growth strategy.
The additional investment secured through Kingland Capital provides a significant fund for the management team to hire likeminded industry professionals in-line with its hiring plan.
And it means the business can also acquire complementary cloud managed service providers.
Leeds-based Dynamic Networks delivers cloud-led managed IT support, digital transformation services, cyber security and connectivity to the SME market.
Smith said: “Dynamic Networks has invested in their people, systems, processes and solutions portfolio over the past few years and this investment will allow us to support the demanding needs of SMEs.
“I am excited that this investment will underpin our plans to continue to grow both organically and through acquisition.”
Leece, who is one of the founding members of the company, said: “I am very proud of everything Dynamic has achieved, we have great people working with us within the business and we are equally proud to be associated with the customers we have.
“This new chapter will allow us to provide an extended portfolio of services to our existing customers and we look forward to welcoming new customers and working with them on their digital transformation journeys.”
Eddie Buxton, former CEO of Maintel plc, the AIM-listed cloud and managed service provider, will be joining the firm as chairman.
Landsman added: “We are thrilled to be backing David and his management team, together with Eddie in one of the best quality cloud managed services businesses in the UK we have seen.”
