One of many UK’s greatest IT suppliers has stated it’s in “energetic” M&A discussions after posting a greater than doubling of income.
Bellshill-based Kick ICT, which gives IT options and community infrastructure companies, just lately acquired Microsoft Dynamics specialist C2 Software program for an undisclosed charge, representing the agency’s ninth acquisition in eight years.
“M&A continues to be a core factor of the group’s technique,” Kick ICT stated.
“The group stays energetic within the M&A market with quite a lot of discussions at present ongoing.”
Kick ICT posted a greater than doubling of income to £1.4m for the 12 months to finish September, whereas turnover rose 11% to £28.7m.
The agency elevated its headcount to 175, including that it had additionally “leveraged Al internally to ship vital productiveness positive aspects throughout the enterprise.”
Throughout the 12 months, Kick ICT secured a “vital funding” from LDC, a personal fairness investor that’s a part of Lloyds Banking Group.
The brand new funding from LDC marks the profitable exit from earlier Kick ICT backer Enterprise Progress Fund (BGF), which invested £8.5m into the corporate in November 2021.
BGF stated the exit delivered a return of double its unique funding, or £17m.
Kick ICT stated the funding would supply the group with “elevated firepower to execute our M&A method.”
Based in 2015, Kick ICT supplies firms with enterprise and monetary administration software program. The agency primarily works with SMEs. Nevertheless, it additionally supplies accounting and finance software program throughout the social housing, development and schooling markets.
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