UK-based Palatine Private Equity has backed Acora, a managed IT services provider, as it looks to expand its service capabilities through a buy-and-build strategy.
Acora, which has traded for more than 25 years, provides IT support and cloud solutions to help mid-market organisations modernise infrastructure and operate in the digital economy.
The company said it had focused heavily on organic growth through its ‘gold partner’ relationship with Microsoft, which has allowed it to expand its range of services to include Azure, Office 365 and Dynamics support.
Acora has also scaled up through two major acquisitions in the last three years. In 2017 Acora merged with Plan-Net, another owner-managed IT support and services company, and in 2019 it acquired Just Computing, a managed services provider.
Palatine partner Tony Dickin said, “The business has transitioned from its roots as a service desk provider to now offering best in class cloud transformation and ongoing support services to its clients.
“The team have created and excellent platform to deliver fast paced growth both via acquisition and additional investment in people and services.
“We look forward to supporting the team’s value creation strategy going forward, specifically in helping the team convert the pipeline of buy and build opportunities they have highlighted.”
Palatine is currently out eyeing up to £300m for its fourth flagship fundraise.
The firm typically invests between £10 and £30m of capital per deal according to its website.
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