Altenburg Advisory advised Redsquid in arranging a facility from Triple Point to complete two strategic bolt-on acquisitions alongside a committed acquisition facility to support further growth.
ACP Altenburg Advisory (“Altenburg”) is delighted to have advised Redsquid (“Redsquid”) in arranging a facility from Triple Point to complete two strategic bolt-on acquisitions, Covue IT Ltd and Connect2, alongside a committed acquisition facility to support further growth.
Triple Point are an ideal partner for Redsquid as they aim to maximise growth whilst having a positive impact on communities and the UK economy. With Triple Point already being a B Corp, our organisations have very aligned values for future investments as a part of Redsquid’s ambitious buy and build growth strategy.
The two founders, CEO Sohin Raithatha and COO Vince Mignacca, will remain the only shareholders of the business, which they have grown organically and through five acquisitions for the last 17 years. Redsquid will continue to be headquartered in London, and with the acquisitions expand on its local presence both in the London and Oxfordshire area.
Sohin Raithatha, CEO of Redsquid said: “Bringing these two great organisations into the Redsquid group, helps us fulfil our purpose of making a difference to our customers with the use of technology, as we now will be able to provide them with even more technologies and knowledge supported by Covue’s experience in the field.”
“The acquisition of Covue and Connect2 marks a significant milestone for Redsquid, strengthening our market presence and expanding our reach in crucial areas of the education sector. This move underscores Redsquid’s commitment to delivering future proof solutions and services that will revolutionise the education sector to make them more efficient.”
“With Covue, Redsquid gains a powerful foothold in the education sector. This strategic acquisition enables Redsquid to leverage Covue’s expertise, proprietary technologies, and extensive network to develop innovative solutions that will reshape the way educational institutions engage with technology and thrive in an increasingly digital world. “
“We have had a close relationship with Connect2 for years and followed its growth journey. It is well known for delivering exceptional service to their customers, with great and nurtured relationships that shows in a 0% out of contract base. With the acquisition, we look forward to introducing the rest of Redsquid’s technology portfolio into their customers organisations so they can benefit from the simplicity of having one unified partner through the Digital Transformation.”
“We are very grateful to Altenburg Advisory for their advice and for arranging these facilities within a short timeframe. Their guidance on the optimal funding structures and terms alongside their hands on approach and commitment to delivery were key to the successful outcome.”
“We look forward to integrating both organisations into the Redsquid community and combining our people, partners and customers – together we will continue our growth and journey to make a difference together.”
Adam Agius, Director at Altenburg Advisory said “We are very excited to have supported Redsquid on this transaction. The facilities enable the group to make two excellent additions and provide visibility and certainty on funding for future acquisitions which we see as a key differentiator in the current environment. We enjoy partnering with ambitious, growing businesses with excellent management teams and look forward to continuing to support Redsquid on their growth journey.”
Matt Holloway, Head of Business Development at Triple Point said “Partnering with Redsquid is further evidence of our commitment to support UK businesses with flexible and well-structured facilities to support growth through acquisitions. We are really looking forward to the future with all the team over the next phase of their strategy.”
About Redsquid
At Redsquid, we are dedicated to transforming the way our customers do business through the use of technology and business communication solutions. As a provider of innovative solutions in IoT, Cyber Security, ICT, Data Connectivity & Voice, our goal is to enhance efficiency, boost productivity, and reduce costs for our customers. With our solutions, we keep businesses ahead of the curve and on top of their game in the ever-changing technology landscape, so you can trust Redsquid to be your partner in achieving success throughout the Digital Transformation.
About Altenburg Advisory LLP
Altenburg Advisory is a specialist debt advisory firm that works with established businesses seeking debt financing to help them achieve their strategic objectives. Altenburg advises on structuring and arranging bespoke financing solutions, with a focus on leverage finance, ABL, speciality finance, and real estate funding.