Claranet has pocketed a trio of acquisitions that extend its reach and capabilities across Europe and boost revenues by 40%. The IT services provider has also secured long-term financing and an incremental committed acquisition facility of £80m. The refinancing exercise also brought in new minority shareholders including Tikehau Capital which has invested alongside existing shareholders.
The three new acquisitions - Sec-1 in the UK, French IT firm Oxalide and Portugal-based ITEN Solutions - add security, DevOps, systems integration and IT services capabilities to the Claranet Group.
The expanded Group has annualised revenues of £310m, more than 1,800 employees and over 6,500 customers.
Charles Nasser, founder and CEO of the Claranet Group, stated: "Claranet's organic growth, combined with acquisitions, has meant we have established a significant operation in the managed IT services market at the European level. These latest acquisitions represent a significant step forward for Claranet.
"The refinancing, and these latest acquisitions, means that we are better positioned to meet the opportunities and challenges of a rapidly evolving technology services sector.
"We expect to see a continued consolidation of the European managed services market over the next 24 months and we are on a strong footing in all major markets in Western Europe to take advantage of this opportunity."