3. Croft Communications
Deals announced in 2023: 5 (Direct Line Communications – August, Boldfield – July, Badger Computer Services – April, Kiwi IT – February, Pure IT – February)
Appetite for M&A
Comms-focused MSP Croft has grown from 45 to 200 staff inside 18 months, thanks to a string of small acquisitions.
The Hertfordshire-based Cisco, RingCentral and 3CX partner has acquired five firms already in 2023, the same number it purchased during the whole of 2022, as it strives to evolve from a telecoms firm into a managed IT services provider.
At least some of the acquisitions were funded by alternative lender ThinCats, which has helped support Croft’s growth following its MBO in 2019.
That relationship has spawned a number of multi-million pound facilities, including an £8m commitment to support future acquisitions with an increased focus on IT and cyber security targets.
What they said
“Since working with ThinCats, we have been able to implement our ambitious growth strategy, broadening our sector expertise, expanding our service offering and creating a national support capability,” – Mark Bramley, Croft Communications CEO
Fun fact
Croft held its first ever ‘Croftfest’ in September 2022, complete with drinks, dancing, beer pong and a saxophonist.
