Thu, 11 Nov 2021 | BUSINESS SALE
Cloud and digital services firm Kerv Group has reached £50 million in turnover with the takeover of network and security firm Gyrocom. Kerv, which is backed by LDC, now numbers more than 400 employees and over 750 customers.
Founded in 2006, Gyrocom specialises in SD-WAN and has relationships with a number of leading tech firms, including Dell, Cisco and Palo Alto, among others. The company also works with several major brands in the retail sector, including Co-op and Wickes.
Gyrocom has experienced rapid growth in recent years, with 23 enterprise customers and recurring revenues growing at more than 20 per cent. Following the acquisition, the company will become Kerv Group’s dedicated specialist networking and security division.
Kerv Group was founded in 2020 when LDC backed Six Degrees founder Alastair Mills to acquire and merge three cloud firms: Metaphor IT; Foehn: and DoubleEdge Professional Services. Since then, the company has acquired UCNS Managed IT and digital transformation firm cloudThing.
The group’s strategy sees it target companies with complementary organisations, cultures and capabilities. Its cloud and digital transformation offering is based around four key strategic pillars: Transformed Infrastructure; Digital Workplace; Customer Experience; and Digital Business.
Kerv Group Executive Chairman Alastair Mills said: “Gyrocom brings important new and strategic skills to Kerv across SD-WAN and SASE in particular. Their growth trajectory and ability to win major network transformation contracts are testament to their capabilities and their product-market fit.”
“In addition, and always importantly for Kerv, we’re confident that the team led by Graham, Ryan and Jane are an excellent cultural fit for our company dynamic, and they share our relentless focus on employee and customer experience.”
LDC Investment Director Aylesh Patel added: “Kerv’s acquisition is a great example of a buy and build strategy in action, bringing in a complementary business to further enhance its capabilities and increase market share. We are working closely with the Alastair and his team to explore more acquisitions to further expand the business.”
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