NorthEdge Capital has completed a significant transaction with the sale of Jigsaw24, an IT solutions firm with a £125m turnover, to Alcuin Capital Partners. The move marks a strategic exit for NorthEdge after backing the company for five years.
A Lucrative Deal for NorthEdge
In a strategic move, NorthEdge Capital has sold its investment in Jigsaw24 to Alcuin Capital Partners in a secondary management buyout. Jigsaw24, based in Nottingham, is a prominent player in IT solutions, providing Apple technology, Adobe, and Avid software services. The firm reported a remarkable sales growth, reaching £125m in its 2017 financial year.
The sale, led by managing partner Grant Berry and investment manager Andrew Skinner, reflects NorthEdge’s strategy of capitalizing on its successful investments. Jigsaw24 has not only expanded its geographical presence but also enhanced its offerings, setting a solid foundation for its next chapter.
Growth Under NorthEdge’s Stewardship
NorthEdge initially backed Jigsaw24 in 2013, supporting the management team led by CEO Martin Balaam. Under NorthEdge’s stewardship, Jigsaw24 saw a more than 120 per cent increase in sales, showcasing tremendous growth and positioning itself as a leader in IT solutions.
Notably, the management team included founder and managing director Roger Whittle and finance & operations director John Hughes, who led the secondary MBO with support from Alcuin and PNC Financial services.
Martin Balaam stated, ‘It’s been an incredible five years. The adoption of Apple and creative technology is just beginning, not only within the Creative Industry but across broader Commercial & Enterprise sectors.’
An Impressive Clientele
Jigsaw24 serves an impressive roster of clients, including high-profile names such as Barclays, Disney, Channel 4, BBC Sport, and News UK.
This diverse client base has been pivotal to its sustained growth and success, reflecting the company’s capability to meet the dynamic needs of various industries.
By maintaining strong relationships and delivering customised IT solutions, Jigsaw24 has secured its position in the competitive field of technology services.
The Future for Jigsaw24
With the sale to Alcuin Capital Partners, Jigsaw24 is poised for a new phase of growth and innovation.
The support from Alcuin is expected to drive further expansions and enhance Jigsaw24’s service offerings in the IT sector.
Jigsaw24 is set to continue its upward trajectory, leveraging its strong foundations built during NorthEdge’s investment period.
Insights from the Leaders
Andrew Skinner highlighted that Jigsaw24’s client base and organic growth were instrumental to its success during NorthEdge’s tenure. ‘The firm has expanded its geographical reach and enhanced customer offerings,’ he said.
Chairman Iain Ferguson and the management team have played crucial roles in setting Jigsaw24 on a path of continued success.
As Jigsaw24 transitions to new ownership, the company’s sustained growth potential is evident through strategic planning and execution.
Acknowledgements and Future Prospects
Martin Balaam acknowledged the role of the Jigsaw24 management team and the broader Apple, Adobe, and Avid communities in the company’s success.
He expressed gratitude towards NorthEdge for their support and investment, pointing to a promising future for Jigsaw24 under Alcuin’s ownership.
The strategic sale of Jigsaw24 by NorthEdge Capital signifies a successful investment cycle, setting the stage for continued growth and innovation for Jigsaw24. With a strong foundation and support from Alcuin Capital Partners, Jigsaw24 is positioned to further its presence and influence in the IT solutions industry.
