The first two weeks of 2022 followed the pattern of the past two years, with a wave of consolidation led by companies keen to deepen their operations.
The latest to join a growing list of examples is the IT Managed Services Group (MITSG), which has chosen another managed service provider (MSP) CSS Group for an undisclosed sum.
The agreement with CSS Group includes Charles Street Solutions, MICL and Opus UK, which focuses on specializing in IT services to the legal and professional services sectors. This is the company’s largest transaction to date, bringing the company’s headcount to the 70 mark, with the potential to reach customers across the UK.
MITSG is no stranger to striking deals to grow the business. He was active last year, taking over Manchester-based cloud service provider for the legal sector IT Farm in May, followed by a move to carrier contact center specialist Nexbridge Communications.
A mix of directors and private investments helped MITSG fuel its expansion strategy, with the company led by former GCI management team of Mark Allen and Phil Smith, former GCI CEO Adrian Thirkill, as non-executive chairman.
“The acquisition of CSS is the perfect time to ‘announce’ us as a new player in the UK managed services space and gives us the scale to aggressively target the UK small and medium business market. “, said Mark Allen, chief financial officer and co-founder of MITSG.
“We believe that SMEs in the UK are currently underserved, with providers who are either too small to offer the full range of IT services or too big to care. Many of them are “generalists “meaning they have a broad portfolio of tenuous services that lack the credibility of a true tech specialist,” he added.
Phil Smith, COO and co-founder of MITSG, added that he had a clearly defined approach he offered to SMB customers.
“MITSG was created to offer SMBs the full range of managed services in four separate specialist units: Cloud and Remote Desktop, Networks and Security, Voice and Contact Center, and Managed IT Services,” he said.
“Each of these units is made up of experts in their respective fields. There will be further acquisitions by the group throughout 2022 to enable us to create depth and balance in our portfolio of products and services,” added Smith.