Apple reseller Jigsaw24 has been sold to private equity firm Alcuin Capital Partners, six months after a potential sale was first rumoured.
The deal for the Nottingham-based firm, which generated revenue of £95.2m in its last reported financial year, sees CEO Martin Balaam exit the firm, along with previous private equity backers NorthEdge Capital, who invested in 2013.
"It's been an incredible five years," Balaam said. "We are only at the start of the adoption of Apple and creative technology not only within the creative Industry but also the broader commercial and enterprise business, as 'mobile first' is now reality and businesses have digital transformation at the top of their strategies.
"It's been a pleasure to work alongside the Jigsaw24 management team and the wider Apple, Adobe and Avid community. I'd like to thank NorthEdge for their continued support and investment over the period and wish Alcuin and Jigsaw24 even greater success in the future."
Jigsaw24 founder, and current managing director, Roger Whittle will step into Balaam's shoes as CEO.
Whittle said: "With John Hughes as COO alongside myself, and some significant additions to our revitalised management team, we are excited about implementing our ambitious investment plans, as we work together in close partnership with Alcuin Capital, taking Jigsaw24 onto the next level together.
"Our close collaboration with Apple in the exciting and growing areas of enterprise, education and digital transformation allied to our strong momentum within the media and entertainment sector backed by an expanding services proposition give us great confidence in the future."
New private equity owner Alcuin already has experience in the channel after investing in AVMI in 2012.
Terms of the deal were not disclosed, but NorthEdge said it saw a three-times return on its investment in Jigsaw24.
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