Synova Capital, a UK private equity fund focused on the lower mid-market, today announced the acquisition of Actimax PLC, a leading UK supplier of IT and telecoms infrastructure services.
Actimax services include the provision of VOIP, systems maintenance, data services, mobile and hosting services, mainly to the underserved SME market.
"We have been able grow Actimax throughout the economic downturn by combining best quality systems with best value pricing and market leading customer service standards,” said John Massey, CEO of Actimax. “
With Synova's support we now have the capital available to make complementary acquisitions with the aim of building a group with a truly unified and nationwide proposition in IT and telecoms to the UK's SME customers."
Philip Shapiro, a managing partner of Synova Capital added: "We are delighted to be backing such a proven and successful management team who have already managed to deliver strong growth throughout the downturn.
“Actimax has considerable scope to add more products and services and is in an excellent position to act as a platform for a buy and build in the fragmented IT and telecom services market. We are already looking at some potential additions to the Actimax Group and are excited at the prospect of supporting the Group with more capital."
Synova previously supported the Actimax management team in a management buy-out from Foresight VCT PLC.
