Fasten your seatbelts, tech enthusiasts, as the UK’s managed services landscape is set to experience a seismic shift. Redsquid, a prominent managed services specialist, has just declared the acquisition of two major players, MSP Covue and Telecoms Provider Connect2, on 20th July 2023. This double acquisition is no ordinary business deal – it’s a strategic move that promises to supercharge Redsquid’s growth, bolster its presence in the education and public sectors, and potentially transform the way we utilise technology in our institutions.
- Redsquid, a managed services specialist, has completed the acquisitions of MSP Covue and Telecoms Provider Connect2.
- The acquisitions will help Redsquid expand its influence in the UK’s education sector and public sector customers.
- Redsquid’s ambitious growth plans are supported by funding from Triple Point, a B Corp with shared values.
Redsquid Supercharges Growth with Double Acquisition
On 20th July 2023, Redsquid, a managed services specialist, announced the completion of two major acquisitions. The company has purchased MSP Covue and Telecoms Provider Connect2, marking a significant step towards expanding its influence in the UK’s education sector and public sector customers.
An Ambitious Growth Strategy
Redsquid’s acquisition of Covue and Connect2 has been facilitated by Altenburg Advisory, who orchestrated the funding from Triple Point. The funding arrangement includes provisions for future acquisitions, aligning perfectly with Redsquid’s ambitious growth plans.
Triple Point, a B Corp, mirrors Redsquid’s values and aims in their shared commitment to catalysing growth while positively impacting communities and the UK economy. Redsquid’s CEO, Sohin Raithatha, and COO, Vince Mignacca, will continue to be the sole shareholders of the business, which they’ve successfully grown for the past 17 years.
Diving into the Education Sector
With the acquisition of Covue, Redsquid makes a strategic leap into the education realm. Covue’s expertise, proprietary technologies, and extensive network provide Redsquid with the tools to develop innovative solutions that could transform the way educational institutions utilise technology. As Raithatha puts it, this move helps Redsquid to “fulfil our purpose of making a difference to our customers with the use of technology.”
Strengthening Bonds with Connect2
Redsquid has enjoyed a close relationship with Connect2 for several years, tracking its growth journey. Known for their exceptional customer service and nurtured relationships, Connect2 boasts a 0% out of contract base. With this acquisition, Redsquid aims to integrate its technology portfolio into Connect2’s customer organisations, simplifying their digital transformation journey with a single unified partner.
A Successful Collaboration
Raithatha expressed gratitude towards Altenburg Advisory for their advice and efficient arrangement of these acquisitions. “Their guidance on the optimal funding structures and terms alongside their hands-on approach and commitment to delivery were key to the successful outcome,” he said.
Final Thoughts
These acquisitions mark the fourth and fifth for Redsquid, supercharging the company’s ambitions for growth. Through this move, Redsquid is set to expand its local presence across the UK, while maintaining its London headquarters. The company is keen on not just scaling its operations, but also ensuring resilience and making a significant difference to its customers.
FAQ:
Q: What acquisitions did Redsquid announce on 20th July 2023?
A: Redsquid announced the completion of two major acquisitions: MSP Covue and Telecoms Provider Connect2.
Q: How were Redsquid’s acquisitions facilitated?
A: Redsquid’s acquisitions were facilitated by Altenburg Advisory, who orchestrated the funding from Triple Point.
Q: What is Triple Point’s involvement in Redsquid’s acquisitions?
A: Triple Point, a B Corp, provided funding for Redsquid’s acquisitions and shares Redsquid’s commitment to catalysing growth and positively impacting communities and the UK economy.
Q: Who are the sole shareholders of Redsquid?
A: Redsquid’s CEO, Sohin Raithatha, and COO, Vince Mignacca, are the sole shareholders of the business.
Q: What does acquiring Covue mean for Redsquid?
A: Acquiring Covue allows Redsquid to make a strategic leap into the education sector and develop innovative solutions for educational institutions.
Q: What is the benefit of acquiring Connect2 for Redsquid?
A: By acquiring Connect2, Redsquid aims to strengthen its relationship with customers and integrate its technology portfolio into Connect2’s customer organizations for a simplified digital transformation journey.
Q: Who did Redsquid express gratitude towards for the acquisitions?
A: Redsquid expressed gratitude towards Altenburg Advisory for their guidance and efficient arrangement of the acquisitions.
Q: How many acquisitions has Redsquid made in total?
A: These acquisitions mark the fourth and fifth acquisitions for Redsquid.
Q: What is Redsquid’s goal through these acquisitions?
A: Redsquid aims to expand its local presence across the UK while ensuring resilience and making a significant difference to its customers.
