SCC to unleash £300m M&A war chest

Birmingham-based IT group promises further acquisitions in the UK, France and Spain

SCC has nailed its colours to the M&A mast, committing £300m to acquisitions in the UK, France and Spain over the next five years.

The Birmingham-based IT group says the five-year "campaign" is designed to consolidate its position as Europe's largest private investor in technology and underpin its "sustained multi-generational vision".

Having turned over £2.6bn in its year to 31 March 2022, SCC claims a "highly successful" start to its current year mean it is on course for revenues of £2.9bn in fiscal 2023.

It has already made two big UK acquisitions this year in the shape of Civica's licensing business and audio visual provider Visavvi.

The news comes after another of the UK's largest privately held IT groups, Westcoast, last week announced a major acquisition in Germany.

SCC said it has committed £200m of equity and £100m of debt over the next five years to fund its continued M&A drive. A further £150m of equity will support further technology investments - under the banner of Rigby Technology Investments - over the same period, meanwhile.

"Whilst we are entering more challenging economic times, SCC is committed to a sustained multi-generational vision, and over the coming years we intend to leverage the strength of our long-term private company positioning and decision making to not only strengthen existing operations, but to also broaden our capabilities," said SCC CEO and co-CEO or Rigby Group, James Rigby (pictured above, left, with Sir Peter Rigby, founder and chairman of Rigby Group and Steve Rigby, co-CEO of Rigby Group).

"We are looking to make a series of investments in the UK and Europe that will enhance our client offering with an array of rich new services to further underline SCC's standing in the sector."

SCC said that a new head of corporate development and strategy for SCC EMEA will join in January to assist with the planned M&A activity, adding that "significant announcements" are expected throughout 2023.