Salford IT business acquired by NorthEdge Capital
Jigsaw24 has been acquired by Manchester and Leeds-based private equity firm, NorthEdge Capital in the company’s second transaction following investment from FPE Global.
The bought business is a wholly owned subsidiary of Jigsaw Systems Ltd, and offers IT solutions to UK businesses, with expertise in Apple, Adobe and creative solutions.
Investment from NorthEdge will hope to accelerate growth plans, both organically and through further acquisitions.
Founded in 1992, Jigsaw24 has seen annual growth in every year of its existence and capitalised on the popularity of Apple products, mobile devices and apps for the workplace.
The business has a strong customer base in the UK creative and educational sectors as well as the commercial and public sector.
Jigsaw24 said funding from NorthEdge will be used to expand in these growing industries with a specific focus on development of apps and managed services around the “Apple ecosystem.”
The business is headquartered in Nottingham and has a service operation at MediaCity in Salford, while plans to open a facility in London will be implemented later in 2013.
NorthEdge’s investment will support the management team led by chief executive Martin Balaam and managing director and founder, Roger Whittle.
IT investor Ashvin Pathak has also been appointed as non-executive chairman as part of the transaction.
Ray Stenton, NorthEdge partner who led the deal, commented: “There are significant opportunities for further growth as Apple gains a wider share of the enterprise market and this investment provides the capital for more accelerated expansion.
“There is also huge potential in the application managed services offering of the business and also in mobile device management as an increasing number of employees use smartphones and tablets as part of their core workflow.
“Jigsaw24 has succeeded by adapting quickly to opportunities in the market and it is exactly the kind of business that NorthEdge looks to support. Our investment will ensure it has the backing to go from strength to strength.”
Jigsaw24’s chief executive Martin Balaam added: “Jigsaw24 has grown considerably in recent years as Apple and creative IT have become adopted beyond more than the creative and educational sectors.
“More and more enterprises are embracing Apple and iOS technology, transforming how their users interact with each other and their customers, creating efficient workflows and a paradigm shift in user and customer experience.
“The investment from NorthEdge provides us with the platform to accelerate growth and expand our UK footprint.”
Debt facilities were provided by Lloyds while a team from Deloitte Manchester acted as corporate financial advisors.