Air IT continues M&A frenzy with double acquisition

MSP has snapped up Oxford-based Riverbank IT Management and Coventry-based Nexus GS

Nottingham-based Air IT continues its acquisition spree with the purchase of Riverbank IT Management and Nexus GS.

Air IT was founded 15 years ago by Todd McQuilkin who sold it to August Equity earlier this year and stepped back into a non-exec position. The private equity house vowed to implement a buy-and-build growth strategy and has since made good on that commitment with this pair of acquisitions, as well as those of Netstar and Microtrading six weeks ago.

The purchases of Coventry-based Nexus GS and Oxford-based Riverbank expands Air's geographical footprint in the UK, where it now has offices in Nottingham, London and Birmingham.

"Following the recent acquisitions of Netstar and Microtrading, we are very excited to be able to welcome the Riverbank and Nexus GS teams to the Air IT family," stated Air IT CEO John Whitty (pictured above, left, COO James Healey).

"Both businesses bring significant value to the table and will be integral in helping us realise our plans to grow and cement our position as the outsourced IT services partner of choice to the SME community in the UK.

"Both are highly accredited and mature MSPs and will be a great fit for the Air IT group with very similar values, culture and passion for helping clients become more successful, efficient and secure through the adoption of performance-enhancing technology."

The new additions bring Air IT's headcount to 175 and enable the MSP to address the Thames Valley market while boosting its position in the West Midlands.

The MSP intends to become the UK's largest SME cloud-focused managed service provider.

Mickey Patel, partner at August Equity, stated: "We are excited to see the Air IT team continue on their growth journey, adding four new businesses to the group within months of each other.

"We will continue to use the knowledge and network we have built over time to assist the management continue to develop the UK's largest SME cloud service provider."

Marc Juffkins, founder and MD of Riverbank IT Management, added: "Riverbank has always been committed to providing the very highest standards of service and support to our clients and we look forward to helping our customers realise the joint benefits that being part of the Air IT group will bring, including access to a broader range of business-enhancing services, such as managed cybersecurity and Business Intelligence (BI) as-a-service."

Justin Huckfield, founder and MD of Nexus GS, stated: "We're all delighted to join the Air IT group. They have an excellent reputation and track record.

"Its investment in support systems and breadth of expertise will enable Nexus GS to better serve and meet the ever-changing needs of our clients. It's clear that Air IT shares a similar ethos as Nexus GS with people and client-centric values at the core of its operations."