Armstrong has provided CDD for August-backed IT Services provider Air IT’s acquisition of Netstar.
Air IT supports SMEs (25 – 250 seats) with IT managed services, cyber security, business comms, and business intelligence. Armstrong supported August’s original investment in January 2020, since when the business has maintained its 20%+ revenue growth, increased average contract terms and average contract value, and doubld headcount.
Air IT’s buy-and-build strategy has now begun in earnest, increasing its customer base from 400 to nearly 1,000 whilst doubling revenues and EBITDA.
Netstar services customers predominantly in the Financial, Professional Services, Healthcare and Property sectors and its customer base is located predominantly across London. The business was recently ranked in the top 50 MSP’s by ChannelE2E and last month was announced as a finalist for the prestigious Customer Experience in a Crisis award, hosted by Awards International.
The buy-and-build strategy includes utilising Netstar and Air IT’s other recent acquisition, Microtrading, as hubs for future acquisitions in the West Midlands and London, as well as also focusing on expansion into the North West and North East through further M&A. The business is targeting a regional strategy developed by management that allows Air IT to continue to provide a ‘local touch’ to its customers in new geographies through providing on-the-ground customer service experience and engineers.
This is Armstrong’s most recent technology CDD engagement, in what is an increasingly busy year for the sector. For more information on this and the other technology deals Armstrong has supported, please contact:
Mike Callow, Head of Technology, +44 7894 594 500, firstname.lastname@example.org
Magnus Hedberg, Senior Consultant, +44 7988 121 458, email@example.com