Espria CEO reveals M&A plans with £60m revenues goal

Clinton Groome tells CRN after regrouping and restructuring the business following a big CEO shake-up, the MSP is looking at an aggressive three-year plan

Espria plans to sell up as part of its refreshed three-year strategy after a turbulent 2023 that saw a major leadership change.

The MSP switched CEOs in a strategic move that saw current chief exec Clinton Groome (pictured) step up to the top job after previously serving as chief operating officer for three years.

Greg Hawthorn was then appointed as its new chief technology revenue officer in July 2024 and subsequently moved to MD of cloud to drive the MSP strategy.

After a substantial investment in its management team, Espria was able to refocus the business.

The Hertfordshire-based company has been backed by private equity firm Connection Capital since the merger between Mode Solutions and EACS in 2022, leading to a rebrand to Espria.

“As part of that journey we've always said, within three years, we'll get to the point where we'll do the appropriate transaction,” Groome tells CRN.

“Based on 2023 being an unstable year after removing the CEO we decided to pause, regroup, redesign the business, and move forward.

“So effectively, this is year one of the three-year plan.”

Groome adds by the end of the three years he hopes the business will reach the point where a new PE house will be interested to invest further and acquire.

“By that stage, we want to be within the region of between £50m to £60m in terms of revenue.”

M&A strategy

Groome notes that if a PE firm swap comes into play, then Espria will likely do an acquisition.

“We will acquire another small business that we are looking at anyway. We may do it before that, we may not, depending on how well we perform in the next couple of years.”

Groome adds that a potential acquisition would be less around the EBITDA arbitrage and more around a network business or a CRM play.

“We probably would be looking at some sort of Dynamics 365 Business Central style company that allows us to go-to-market which then enhances what we do from a Microsoft standpoint.

“This is all around net new growth. New logos, new business.”