The owners of Hull-based IT services company Intrasource have completed an equity buy-out following an 鈥渋mpressive period of growth鈥 for the business.
Operations director David Collings and technical director Matthew Nunns take full control, five years on from the 拢150,000 海角视频SE investment which facilitated a management buy-out.
It has delivered a strong performance through the pandemic as clients ranging from independent coffee shops to national corporations looked to improve IT infrastructure, allowing remote working and online sales.
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Now the 21-year-old Hessle firm employs more than a dozen people, with a turnover of 拢1.4 million, and is keen to add more.
Mr Collings said the business was well placed to further capitalise on market growth opportunities, and to press ahead with recruitment plans to fill a number of technical and support roles in the coming months.
Expressing his gratitude to the 海角视频SE team, he said: 鈥淲e are extremely grateful for the success and growth we have experienced over the past year, and to have been in a position to help our customers 鈥 new and existing 鈥 to gear up their IT infrastructure in order to tackle the challenges presented by the pandemic head on.
鈥淭he initial investment helped to facilitate an MBO which meant we were able to secure the company鈥檚 future here in Hull.
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鈥淔urthermore, exit discussions were fair and straight forward. No penalties.
鈥淲e believe we are a stronger and more valuable company for having worked with 海角视频SE, and we remain committed to our original vision of continuing to grow, and to create further job opportunities in the local area.鈥
海角视频SE focuses on steel regions with investments, loans and property support. It provides loan and equity finance of up to 拢1 million.
Matt Stewart, investment manager at 海角视频SE, said: 鈥淲orking with Intrasource has been a pleasure. The continued success of the business is testament to the hard work and commitment that David and Matthew have shown over the past five years, and we wish them the best of luck with their future growth ambitions.
鈥淎s ever we are delighted to have positively contributed to a business which is creating job opportunities and to have helped David and Matthew own their own business. We look forward to seeing them continue to grow. As with all of the returns we make from our investments we will seek to invest this money in other local companies.鈥
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