Acquisition Boosted by NatWest Investment
A recent deal backed by NatWest Bank has facilitated the acquisition of Cardium Outsourcing, an IT business based in Burnley, by the Everything Tech Group, headquartered in South Yorkshire. The acquisition marks another significant step in Everything Tech Group’s expansion strategy, enabling them to further consolidate their position in the market.
The Deal Details
Cardium Outsourcing, previously operating under the name Your Office Anywhere, has become a part of the Everything Tech Group following this undisclosed sum acquisition. Everything Tech Group, initially founded as MITSG in 2021 by Mark Allen and Phil Smith, has seen rapid growth since its inception, particularly after securing investment from BOOST & Co in February 2022.
Strategic Growth Plans
Mark Allen, CFO of Everything Tech Group, expressed enthusiasm about the support received from Max Ward at Independence Capital and NatWest Bank. He emphasised that this investment would fuel their strategic acquisition approach, allowing them to execute their growth plans at an accelerated pace. Allen highlighted the importance of both organic growth and mergers and acquisitions (M&A) in achieving their business objectives for 2024 and beyond.
Market Expansion and Product Enhancement
The acquisition of Cardium Outsourcing aligns well with Everything Tech Group’s vision for expansion. Allen emphasised that the move was not only aimed at catering to enterprise customers’ needs but also at extending their product portfolio. He sees this as an opportunity to enhance their existing offerings, particularly in cloud platforms, to provide better visibility, cost control, and security.
Support from NatWest
Tom Murray, Vice President of UK Financing Solutions at NatWest, highlighted their commitment to supporting ambitious businesses like Everything Tech Group. He described the investment as a flexible solution that would facilitate the company’s continued growth and success. Murray emphasised NatWest’s role in unlocking strategic growth opportunities for their clients, underscoring their pride in championing businesses with potential.
Q&A Section:
Q1: How will the acquisition of Cardium Outsourcing impact Everything Tech Group’s growth strategy?
A1: The acquisition of Cardium Outsourcing bolsters Everything Tech Group’s growth strategy by providing access to new markets and enhancing their product portfolio, particularly in cloud services.
Q2: What role does NatWest Bank play in facilitating this acquisition?
A2: NatWest Bank provides crucial financial support, enabling Everything Tech Group to execute its strategic acquisition plans. Their flexible investment solutions unlock growth opportunities for ambitious businesses.
Q3: How does Everything Tech Group plan to leverage this investment for future expansion?
A3: Everything Tech Group aims to utilise the investment to scale up both organically and through further mergers and acquisitions. They intend to align their growth plans with clear business objectives, ensuring sustained expansion beyond 2024.
