Air IT has completed the acquisition of Riverbank IT Management Limited ("Riverbank") near Oxford and Nexus GS Limited ("Nexus") near Coventry. This follows the acquisition of London based Netstar and Birmingham based Microtrading in October.
August Equity backed IT Managed Service provider, Air IT has over doubled its revenue and EBITDA throughout 2020 via four acquisitions, the latest being the double acquisition of Riverbank and Nexus. These followed the acquisition of London based Netstar and Birmingham based Microtrading in October. Air IT has achieved this alongside its own, strong, double digit organic growth. The business now has 175 employees who support a client base of over 1,000 businesses.
Geography has been a key consideration in Air IT’s M&A strategy, from targeting large cities such as London through Netstar, to further consolidating Air IT’s place of origin, the Midlands, through Microtrading and Nexus. However, CEO, John Whitty, and August Equity Partner and Director on the Board, Mehul (“Mickey”) Patel have also focussed explicitly on ensuring each acquisition doesn’t lose its ‘local touch’. From having engineers on the ground to personal relationships with clients, each acquisition brings something unique to the group and it is important this isn’t lost.
M&A appetite remains very strong and the group plans to continue 2021 in the same vein as 2020; by focussing on partnering with good quality, like-minded, IT MSP’s across the UK.
Air IT, Riverbank and Nexus GS have continued to be individually successful in maintaining organic growth over the last three years, with each consistently delivering 20% year on year growth. Riverbank and Nexus GS share the same dedication to service excellence that Air IT has been recognised for in the last few years and use the same tool sets that allow them to deliver secure, agile, reliable, and innovative mission critical capability to their customers.
Air IT are a leading UK supplier of managed IT and communication services, which specialises in delivering IT support, cloud, telephony, cyber security, and business intelligence solutions to SMEs (25 – 250 seats) throughout the UK.