Kick ICT funding Image by TheDigitalWay from PixabayLDC has a significant stake in KICK ICT, Scotland’s largest independent managed service provider. It acquired the stake from BGF, which originally invested £8.5 million (Despite the original releases stating that this was £8.7 million) into Kick ICT in 2021. This helped support the company’s growth through several acquisitions and organic expansion. Kick ICT made its ninth acquisition since the company was founded in November 2023, when it acquired C2 Software, its second since the investment by BGF.

It was a relatively short and successful investment by BGF that delivered a 2x money multiple and a 38% internal rate of return on the investment.

Tom O’Hara, CEO at Kick ICT
Tom O’Hara, CEO at Kick ICT

Tom O’Hara, CEO at Kick ICT, said, “BGF’s investment in 2021 allowed us to continue to deliver our ambitious growth strategy, and they were a fantastic partner as we implemented our buy and build approach and strengthened the senior team in preparation for the scale of opportunity we see in front of us. This will now continue with LDC, and we are excited about the opportunities ahead.”

Richard Pugh, Investor at BGF, said, “We’ve thoroughly enjoyed working with Tom and the team at Kick ICT to deliver fantastic business growth since our original investment in 2021. Rapid progress meant all parties were able to realise their objectives ahead of schedule, and now, with the incoming investment from LDC, the time was right for us to exit the business. We look forward to seeing Kick ICT go from strength to strength in future.”

As yet, LDC, part of the Lloyd Banking group, has not published a press release about his investment, nor is it listed on the portfolio. It isn’t clear what investment LDC made into KICK ICT yet, but one presumes this will lead to more acquisitions for the company.

Enterprise Times: What does this mean

KICK ICT now has more than £30 million turnover and employs more than 170 staff. It has plans to further increase headcount in 2024. The firm has a strong Microsoft Dynamics practice and is also an Infor SunSystems and Pegasus (Infor) partner. The acquisition of C2 Software further strengthened its Dynamics practice. Will it look to strengthen that area or perhaps add a smaller Infor partner to its Infor practice?


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