Posted earlier re 4 more deals!7 Aug 2015 15:04
MXC Capital eyes four more deals in less then 18 mts! (now 16)
Report from CRN from May 2015.
The tech investment house, founded by channel entrepreneurs Ian Smith and Tony Weaver, has been busy of late, taking a 10 per cent stake in VAR Pinnacle Technology Group last month and buying Calyx Managed Services in February, before selling its parts off to Daisy, Chess and Redcentric and making £5.3m in profit in the process.
In total MXC Capital completed 13 transactions in the last six months, which included five "buy and build" acquisitions.
Speaking to CRN, Marc Young, MXC Capital's chief executive, said: "Our initial target is to have eight to 10 investment vehicles, including the ones we have got. If you think across the group, once we acquire [MXC] Holdings, we will have Redcentric, Castleton Technology, 365 Agile and Pinnacle, and I think it would be fair to see another four platform deals done, over the next 18 months.
When asked if MXC Capital would be looking for long-term opportunities or short-term deals, such as with Calyx, Young said the investment vehicle is looking at a mixture.
"The focus is around the longer-term horizons, but we will always be opportunistic. By virtue of the strength of our industry reach and contacts, we will always look at turnaround opportunities, which might require us to be in there a long time.
In a statement released today, MXC Capital, said: "We are particularly focused on opportunities in managed services, government and the public sector, the Internet of Things, robotics, security, fintech and internet service providers."
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We have had one news on 365 Agile already.
We also have around 30m to invest.