LISBURN-based Xperience Group, one of the north's longest established providers of IT solutions, is to benefit from an investment injection from mid-market private equity firm Bowmark Capital.
Formed in 1997, Bowmark invests in technology and services companies valued at up to £300 million, and it manages and advises funds of more than £1.7 billion and has made 50-plus investments up to now.
Xperience, which provides end-to-end digital solutions across a range of services including managed IT, cloud, business applications and cyber security, employs 170 staff at offices in Lisburn, Bury St Edmunds, Glasgow, Peterborough and St Neots, from where it supports around 800 small and medium-sized companies.
The company, a Microsoft Gold Partner, has been delivering double-digit revenue and profit growth, and last year it completed the successful acquisitions of two complementary IT solutions businesses in Green Duck and Riverlite.
Its partnership with Bowmark - which remains subject to regulatory approval - will facilitate both organic and acquisitive growth, and enable the more rapid expansion of its services in high-demand areas such as cyber security.
With the ongoing drive towards digital transformation, the widespread adoption of cloud services and the increasing challenge of cyber threats, more and more SMEs are seeking a strategic IT partner that can provide a integrated business solution.
Xperience chief executive Iain O’Kane said: “Bowmark’s track record in our sector, and their understanding of what we are seeking to achieve, made them a natural partner for our business.
“Our vision is to grow Xperience (https://www.xperience-group.com/) into one of the UK’s leading managed IT service providers and we look forward to working with Bowmark to achieve this goal.”
Tom Elliott, partner at Bowmark, added: “Xperience’s impressive performance has been driven by its exceptional customer service, deep technical capabilities and investment in its people. As a result, it has become a highly trusted partner to its clients and we are delighted to be supporting Xperience in the next phase of its growth.”
