BGF sells APSU to CSI Group

As part of the deal, BGF and APSU founder Steve Morris will take a stake in the company's US division, which has been spun out.

Following BGF's investment in the company, APSU expanded into the US market by opening an office in Nashville, Tennessee, in February 2016. The business has also expanded through investment in its international technical support, sales and marketing teams.

Though at the time of BGF's investment APSU said it would consider making acquisitions, the firm has made no bolt-on investments over the past two years.

Previous funding
BGF invested £7m of growth capital into APSU in October 2014.

Company
Founded in 2011 by the merger of AssurIT and Apex Computers International, APSU provides IT systems and infrastructure. The business is headquartered in South Cerney, Gloucestershire, and has a partnership with IBM.

People
BGF – Ned Norbin, Edwin Davies (investors).
APSU – Steve Morris (founder, CEO).

Advisers
Vendor – Foot Anstey, Henry Humphries, Ben Harris (legal); Murphy Salisbury, Bobby Gupta (tax).

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• Topics
• Exits
• UK / Ireland
• Technology
• United Kingdom
• BGF (Business Growth Fund)
• Trade sale