The corporate finance team in the Birmingham office of international accountancy firm Mazars has advised APSU TWP Ltd (APSU), a provider of IT managed services and an IBM Premier Business Partner, on a £7 million investment by the Business Growth Fund (BGF), the independent company established to help Britain’s growing businesses.
BGF’s investment will enable APSU, which has its headquarters in Cirencester, Gloucestershire, to recruit technical personnel in the UK to support overseas customers and build a bigger sales and operational capability to address the US and other overseas markets.
APSU also plans to target selective acquisitions to enhance its service offering, both in the UK and internationally.
Mazars corporate finance partner Nick Johnson and director Stephen Harris advised the company.
Nick Johnson said: “APSU is a terrific business which is aiming to grow rapidly.
“This is a significant injection of cash to help it achieve its ambitions. We were very pleased to be able to advise them.”
APSU is forecasting a turnover of £25 million next year and is a leader in delivering IBM solutions to the UK market. Its service portfolio covers technical consultancy, procurement, managed services, in-store and on-line retail solutions, cloud hosting, physical co-location and software asset management. In 2013 it was recognised as one of the fastest growing IT companies in the UK by the Sunday Times Tech Track 100.
The company was formed in 2011 by CEO Steve Morris from the merger of AssurIT with Apex Computers International Limited.
Mr Morris commented: “The investment by BGF will provide the platform to build upon our exceptional growth as APSU develops and expands our unique feature-rich, cloud-based offerings for the UK, Europe and worldwide markets.
“APSU has an exciting and profitable future ahead and I very much look forward to working with BGF, as well as continuing to work with our customers and partners, both in the UK and internationally, to ensure that we exceed market expectations for both innovation and quality of services.”
Nick Johnson added: “This is the latest of a number deals advised by Mazars’ corporate finance team in the Midlands with several currently in progress in what is becoming a very healthy pipeline.”