BGF injects £7m into APSU

The fresh capital will enable the company to expand its UK-based international technical support team, as well as to its sales and marketing teams.

APSU also stated it would consider making acquisitions, both within the UK and internationally.

Following the transaction, former Unisys chairman Mike Tait will be appointed non-executive chairman of the company.

Lloyds Banking Group introduced BGF to APSU. The GP stated it was attracted to the deal by the company's management team and the increasing prominence of outsourcing within the IT services industry.

Company
Headquartered in Cirencester, Gloucestershire, APSU was founded in 2011 with the merger of AssurIT and Apex Computers International. The company has a partnership with IBM, BM's Power i range of servers.

APSU stated it anticipates a turnover of £25m in 2015. Its clients also include Cisco, Microsoft, HP and VMware.

People
Steve Morris is founder and CEO of APSU. Ned Dorbin, an investment director, led the deal for BGF alongside Paul Brindley and Edwin Davies.

Advisers
Equity – Baker Tilly, Peter Vandervelde, James Killing (Financial due diligence); Foot Anstey, Matthew Stoate, Henry Humphreys (Legal).
Company – Mazars, Stephen Harris, Nick Johnson (Corporate finance); Murphy Salisbury Chartered Accountants, Bobby Gupta (Corporate finance); The Wilkes Partnership, Gareth O'Hara, Samantha Forrest (Legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• BGF (Business Growth Fund)