IT services provider GCI has announced that private equity house Mayfair has become majority stakeholders in the business, giving it more than £60 million investment fund for further acquisitions.
GCI has been a bit of shark in the last few years, snapping up Blue Chip Data Systems and Freedom Communications. With £60 million to play with, the company is guaranteed to be window shopping for more targets.
The company has indicated that it is in no hurry to make more acquisitions as it does not see itself as having many gaps in its portfolio. It is more interested in strategic investments to provide speed, scale, and market share.
However, it added that it would be looking out for innovative companies that can further add to its service range.
The move means previous majority stakeholder BGF will be exiting entirely from the business. Wayne Martin, who sold most of his shares to Mayfair, will continue to retain a stake in the company.
