Ambitious MSP Redsquid has secured a new lender to “supercharge” its M&A strategy as it announced its fifth acquisition inside 14 months.
The new facility – courtesy of similarly animal-themed lender ThinCats – is designed to support M&A into 2025 and beyond.
Announced today, Redsquid’s first ThinCats-backed purchase, of 12-employee Aberdeen-based IT Hotdesk, brings its total acquisition tally to eight.
A certified B Corp, former IT Channel Oxygen Solutions Provider of the Month Redsquid has made three acquisitions in 2024 alone, and five in the last 14 months.
“We are so excited for this next growth journey as we move into Scotland,” stated Redsquid CEO Sohin Raithatha.
“We have long had a presence in the North and look forward to being closer to our customers so we can continue providing value as their local MSP.”
Getting one’s claws into M&A
ThinCats has a pedigree in the MSP sector, previously working to fund M&A at the likes of Croft Communications.
Characterising itself as “a leading alternative lender”, it is dedicated to funding mid-sized SMEs with business loans from £1m up to £20m.
Redsquid’s new feline-sounding partner replaces its previous facility with Triple Point.
“We are delighted to have partnered with Redsquid, providing capital to support them through their next phase of growth,” stated Dave Sherrington, MD London and South at ThinCats.
“They have established a strong reputation in the market and are adding some fantastic businesses to the group, expanding their service proposition, and growing into new geographies. We look forward to seeing them go from strength to strength.”
