Tue, 08 Jun 2021 | BUSINESS SALE
Agilico, which is backed by private equity firm Horizon Capital, has acquired Tyneside-based Diamond Group for an undisclosed amount. The acquisition of Diamond Group, which provides telecoms and tech support to SMEs, adds £2 million in revenue and 500 customers to Agilico’s business.
The acquisition is Agilico’s eighth and strengthens its presence in the north of England. The group, which was rebranded from DMC in April, is a workplace technology firm. It offers a range of services, including information management, telecoms, IT services and working technology to customers largely from the education, finance, legal and insurance sectors.
Agilico’s regional managing director for northern England Warren Colby commented: “I am delighted with this acquisition - the team here in the north has known Diamond for a number of years and to have their people on our side is really compelling.”
Simon Davey, CEO of Agilico, added: “Our strategy is to build a UK wide, SME focused business that can provide our customers with a great set of products and services. We know that Diamond has a customer-centric culture and that is just what we are looking for in our acquisition plan."
Horizon Capital partner Luke Kingston said: “This acquisition demonstrates Agilico’s continued opportunity to grow through highly complementary acquisitions alongside continued organic growth. Diamond Group represents another high-quality addition to the platform, and we look forward to continuing to support the Group on its growth journey."
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