TIG gives troubled MSPs a way out

VAR's new M&A venture to target channel bosses that are ready to throw in the towel

Acquisitive VAR The Internet Group (TIG) is offering struggling managed services providers (MSPs) an exit route through its new venture, buymyIT.biz.

The web site, set to go live on 26 April, is designed to enable owner-managers of channel firms to value their business and negotiate a deal with TIG.

London-based TIG has 62 staff, a turnover of £7m and has made four acquisitions in the past two years. The Dell Certified partner aims to expand its headcount to 300 within five years by snapping up more MSPs and integrators.

TIG director Mitchell Feldman said the reseller will post letters to 800 MSPs in the London area, directing bosses to the web site.

“There are hundreds of MSPs and many are getting it wrong,” he said.

“Banks are willing to throw money at us because we have done it four times before.”

Feldman hinted that Dell would be involved in the project, which will be run as a separate venture. “Our guise is to act as an intermediary rather than presenting ourselves as the people who are buying,” he explained.

Robert May, managing director of Dell Certified partner Ramsac, said: “The approach is a bit scattergun. But I guess they think if they hit enough prospective companies, they will find someone to buy.”

Simon Aron, managing director of Dell Certified partner Eurodata, said: “We are still in acquisitive mode. But we have experts looking around the market and pay them a fee so we can focus on our business.”