5 March 2018
NorthEdge Capital has completed the sale of Jigsaw24, a leading provider of IT solutions to the corporate, creative and education sectors, to private equity firm Alcuin Capital Partners.Find out more
Jigsaw24 is a B2B IT solutions provider to organisations across the UK with particular expertise in Apple, Adobe products and Creative solutions.
The Company, trading as Jigsaw24 and founded in 1992, has an impressive 23-year track record of year-on-year growth and has capitalised on the growing popularity of Apple products, mobile devices and the development of associated apps for the workplace. Jigsaw24 is a market leader providing creative technology solutions to more than 25,000 customers, including large businesses, creative professionals, media companies, educational institutions and prosumers.
NorthEdge was attracted to the deal as Jigsaw24 has a growing and loyal customer base in the UK’s creative markets and is rapidly expanding in the SME and educational sectors. The Company provides high standards of customer service and has ambitions to move into higher margin, recurring revenue streams with a services and maintenance-led operation.
The NorthEdge investment accelerated growth plans both organically and through acquisitions, funding significant expansion in the growing educational and SME sectors, in its application development and managed services offerings focused around the Apple and Adobe ecosystems.
The management team has been supplemented by Iain Ferguson as Non-Executive Chairman and Tariq Saied as Chief Operating Officer who previously worked with Martin Balaam, the Chief Executive, during their time at BT Engage and Redstone plc.
The company opened a London office following its acquisition of Square Group in July 2014 and acquired Matrix Software Development, a software business that sells into the same creative customer base as Jigsaw24, in November 2014. The acquisition of Square Group, the UK’s fourth largest B2B reseller and integrator of Apple products, enabled the group to deliver revenues in excess of £80million in FY15. The acquisitions have further strengthened Jigsaw 24’s position in core markets and provide significant opportunity for further growth.
Jigsaw24 Chief Executive Martin Balaam said: “Jigsaw24 has grown considerably in recent years as Apple and creative IT have become adopted beyond the creative and educational sectors. More and more enterprises are embracing Apple and iOS technology, transforming how their users interact with each other and their customers, creating efficient workflows and a paradigm shift in user and customer experience. The investment from NorthEdge provides us with the platform to accelerate growth and expand our UK footprint.”