Kick ICT, a Bellshill-based independent IT managed service provider, received strategic support from growth capital investor BGF to the tune of £8.5 million in 2021. 

Now, BGF is announcing a “triumphant” exit from the Glasgow-based company as a result of strong performance since its initial investment. The successful exit yielded a 2x money multiple (MM) and a 38% internal rate of return (IRR) on the investment. 

BGF was first set up in 2011 and has since invested over £3.5 billion in over 500 companies. It positions itself as a minority, “non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs.”

According to Kick ICT BGF’s investment played a pivotal role in facilitating Kick ICT’s acquisitive growth strategy. Notably, the company made strategic acquisitions in companies like Consilium in 2022 and Dundee-based C2 Software Limited in November 2023

“Rapid progress meant all parties were able to realise their objectives ahead of schedule, and now with the incoming investment from LDC, the time was right for us to exit the business. We look forward to seeing Kick ICT go from strength to strength in future,” said Richard Pugh, investor at BG.

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Geoff Neville, who was introduced by BGF as an independent chair to Kick ICT, will continue his role after the exit, along with the current management team led by CEO Tom O’Hara.

Tom O’Hara, CEO at Kick ICT, expressed gratitude for BGF’s support in realising their ambitious growth strategy. O’Hara stated, “BGF’s investment in 2021 allowed us to continue to deliver our ambitious growth strategy, and they were a fantastic partner as we implemented our buy and build approach, and strengthened the senior team in preparation for the scale of opportunity we see in front of us. This will now continue with LDC, and we are excited about the opportunities ahead.”