Tech: Pictet Alternative Advisors acquire Technology Services Group
Armstrong provided sell-side due diligence to Technology Services Group (TSG) on its MBO to Pictet Alternative Advisors (Pictet).
Founded in 2003, TSG is a national, fully integrated cloud-first Microsoft digital transformation and managed services provider. With offices in Newcastle, Glasgow and London, TSG employs approximately 250 highly accredited people, targeting mid-market and ambitious small and medium enterprises across the public and private sectors.
Pictet, the alternative investment business of Pictet Group, manages investments in private equity, private credit, hedge funds, and real estate assets for both private and institutional clients.
The acquisition will allow founder shareholders to exit and the management team to accelerate its growth plan (organically and inorganically) as it enters a new phase of expansion.
Armstrong’s full scope CDD work included in-depth interviews with TSG’s key clients and partners, detailed analysis of its addressable market, competitive environment, staff & talent pool, historical performance and a detailed review of its business plan.
Mike Callow, Partner and Head of Technology at Armstrong, said: “TSG is a great business with an impressive management team that are building a top-class channel partner in the Microsoft ecosystem. We really enjoyed working with Rory, the rest of the TSG team and Lincoln on this engagement and look forward to seeing the business continue to succeed on the next stage of its journey.”
Rory McKeand, CEO at TSG, said: “We enjoyed working with the Armstrong team, the depth of their analysis, quality of their interviews and their knowledge of technology services and Microsoft channel gave us a comprehensive report, helped us through the deal process and provided insightful recommendations to refine our strategy and how we are executing it.”
If you are interested in talking to Armstrong about opportunities in the technology sector, please contact:
Mike Callow
mcallow@armstrong-ts.com
+44 7894 594 500
Ifan Dafydd
idafydd@armstrong-ts.com
+44 7792 158 738