MSP newcomer MITSG secures £10m war chest to support buy-and-build strategy

Newly formed MSP led by former GCI execs receives investment from BOOST&Co

Newly formed MSP Managed IT Services Group (MITSG) has secured a £10m war chest from BOOST&Co to fund its buy-and-build strategy.

The Manchester-based business claims the funding will help build on its acquisition strategy and accelerate the future growth of the company.

BOOST&Co is a growth capital lender for small and medium-sized businesses in the UK. It offers loans ranging from £1m to £10m and claims to have a strong track record in the technology, media and telecommunications sector.

It claims to have funded more than £500m through 130 deals to date.

MITSG, which was formed in 2020 and is led by the former executive team of unified comms giant GCI.

The business has acquired three firms since then, in the shape of IT Farm and Nexbridge in 2021 and CSS Group at the start of this year.

Initially funded through both direct and private investment, MITSG now has a headcount of 70 across the UK following its spate of acquisitions.

Chief finance officer of MITSG, said: "With this support from BOOST&Co we are in a great position to build upon our existing acquisition strategy, enhancing the proposition of the group and accelerating growth.

"With this significant investment, we are on track to scale our growth throughout 2022 and beyond."

Ryan Sorby, the head of the north and Scotland at BOOST&Co says: "Mark and the team at MITSG have a fantastic track record of successful acquisitions in the sector, making this a very exciting opportunity for everyone involved.

"The funding from BOOST&Co will enable the team to make selective acquisitions to scale the business quickly, expanding MITSG's reach within the sector and delivering on its growth ambitions."