Fast-growing IT services company Acora has made a third bolt-on acquisition since the investment by Palatine in 2020, and is planning to ramp up further deals in 2022.
The latest deal, for London-based M9 Limited, brings a thriving and forward-looking IT services provider with over 40 staff, and nearly 100 long-term contracted customers to Acora Group.
Founded in 1990, M9 has also established a strong international presence with an offshore team in Kuala Lumpur.
Since Palatine’s initial investment of in the Acora Group in 2020, as a result of the three acquisitions – Veber Ltd, Westgate and now M9 Limited – employee numbers have grown to nearly 500.
Headquartered in Burgess Hill, West Sussex, Acora Group has offices in London, Birmingham, Bath and Milton Keynes.
David Rabson, CEO of Acora, says: “This latest off-market acquisition underpins Acora’s focus of finding the very best businesses in the most strategically important sectors and segments for the business.
“For Acora and M9’s combined customers, the focus will be very much led by experience in terms of innovation, service and support, and the deal comes at a very exciting time for the company following our brand launch earlier in October.”
Andy Stickland, Senior Investment Director at Palatine, says: “The acquisition of M9 is the third off market deal completed for Acora – it is testament to the quality of the Acora Group proposition and strength of the M&A team that these deals have been completed given the conditions faced in the last 18 months.
“I’d expect to see a number of further acquisitions in 2022 as the business has a strong pipeline of opportunities which will deliver both scale and add additional capability to the group.”
Grant Ingram, CEO of M9, says: “At M9, we are excited that our customers now have access to a broader range of solutions and services, as well as Acora’s exceptional skills and talent pool.
“Acora can also be reassured that we have secured our long-term future as a key supplier through this new investment in our people, processes and systems, from an organisation that shares our culture and values.”
