Seven-figure BGF investment supports acquisition strategy at Watford-based TIG

A high-growth managed service provider supporting mid-market companies as they transition to the Cloud has secured a multi-million pound investment.

Watford-based TIG will use the £6m boost from investor BGF to shore up its organic growth and acquisition strategy, starting today (January 3) with the acquisition of IT and cyber security firm netConsult.

As netConsult provides its technology consultancy services primarily to global alternative investment clients, the deal will expand TIG’s financial service offering. It will also double the size of its workforce to 90 employees.

TIG is led by CEO Des Lekerman and COO George Georgiou, alongside recently appointed cloud and managed services director Alan Gill and non-executive directors Mark Howling and Ronnie Smith.

netConsult’s management team, which includes co-founder and chief exec Richard McDonald, will lead the financial services team at the newly expanded business.

TIG chief exec Des Lekerman said: “The acquisition of netConsult brings TIG deeper expertise in the financial services sector, and comes with a best in class management team.

“This will add further to our growth and service offering and it represents another step towards our goal of becoming the UK’s best cloud transformation provider for medium sized UK businesses.”

He added: “Bringing BGF on board provides us with backing from an investor with substantial experience and success working with companies in our sector.”

BGF investor Mark Nunny, who is joining the TIG board, commented: “TIG stands out in its sector due to strong technical leadership and a customer-focused approach to cloud transition and service.

“A lot of mid-market corporates will need to move to the Cloud over the next five years and TIG is well placed to support them.”

He continued: “There is significant opportunity for growth in the sector, and today’s acquisition of netConsult is a fantastic result for Des and the team and the first step in an ambitious growth plan which we’re excited to support.”

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