MBO at CSP Giacom as it builds reseller base
Hull-based cloud service provider Giacom is looking to expand its reseller base after a management buy-out at the firm. Mid-market private equity firm Livingbridge has invested in Giacom to facilitate the MBO.
The MBO was led by Giacom CEO Mike Wardell to buy the firm from its founder Nick Marshall. LDC, which invested in the company in 2016, is exiting, and will be re-investing alongside Livingbridge for a minority stake to support Giacom’s ongoing growth strategy. Founded in 1999, Giacom targets the SME customer market for its services and works with vendors including Microsoft, Acronis, Bitdefender and TalkTalk Business to deliver those services through over 4,000 partners.
“Giacom plans to build on the strong momentum it has generated to date by continuing to expand its partner network, cross-selling more products and services across the marketplace and through strategic mergers and acquisitions,” said Livingbridge.
CEO Mike Wardell said: “Following a year of rapid growth which saw us double our revenues, we believe that now is the right time to secure new financial backing and accelerate our growth plans. Livingbridge’s track record of supporting other high growth businesses such as ours, combined with their experience of investing in the tech sector, means they are uniquely positioned to work with us.”