Giacom offers a one-stop platform for all of the cloud software, infrastructure and IT support services that an ITC might require to transition an SME client into a public or private cloud environment and then manage them on an ongoing basis. Underpinned by a Microsoft 2-Tier Cloud Solution Provider licence, Giacom has rapidly become the vendor of choice for over 4,000 ITCs enabling the business to service a fast-growing addressable market estimated to be worth c£2.2bn.
Established in Hull in 1999, the investment from Livingbridge facilitates a management buyout of the business by Giacom Chief Executive Mike Wardell and his team from the founder, Nick Marshall. LDC who backed the business in 2016 are exiting and will be reinvesting alongside Livingbridge for a minority stake to support Giacom’s ongoing growth strategy. Yorkshire Bank have worked with Giacom since 2016 and continue to support the business following the new investment. Graham Gilbert will remain as Chairman.
Giacom plans to build on the strong momentum it has generated to date by continuing to expand its network with ITCs, cross-selling more products and services across the marketplace and through strategic M&A.
This is the latest investment from the Livingbridge 6 fund and the fourth Livingbridge investment in TMT in recent months.
Commenting on the investment, Mike Wardell, Chief Executive said:
“Following a year of rapid growth which saw us double our revenues, we believe that now is the right time to secure new financial backing and accelerate our growth plans. Livingbridge’s track record of supporting other high growth businesses such as ours, combined with their experience of investing in the tech sector, means they are uniquely positioned to work with us and I am excited about our future partnership with them. I would like to thank LDC for their backing and support to date and am looking forward to the next phase of our growth strategy.”
Commenting on the investment, Matthew Caffrey, Livingbridge, said:
“We are very excited to be working with Mike and the team during the next phase of Giacom’s growth. The business is extremely well positioned to capitalise on a significant market opportunity underpinned by SMEs increasingly migrating their applications and infrastructure into the cloud. Giacom’s marketplace platform is well placed to continue to disrupt the market and drive growth."
Corporate Finance: GCA Altium - Adrian Reed and Dominic Orsini
Legal (Investors): Pinsent Masons- Amie Norris and Gregg Davison
Debt: KPMG Debt Advisory - Chris Lloyd and Meredith Casey
Christian Mayo and Graham Pearce from KPMG advised LDC on the deal
Gateley Plc (Paul Jefferson) acted for LDC and the management team on exit
TLT advised Nick Marshall
Yorkshire Bank: Mike Selina and Rob Atkinson