ECI-backed IT Lab acquires Sol-Tec

ECI 10, which closed on £500m in August 2013, acquired a majority stake in IT Lab in July 2016.

Unquote understands that the firm provided no fresh equity for this acquisition.

Since the investment from ECI in 2016, IT Lab has completed three additional acquisitions, including Perspective Risk in 2017, server message block specialist Mirus in 2019, and Microsoft partner Content and Code in September 2018. The turnover for the combined IT Lab group is now around £85m.

IT Lab CEO Peter Sweetbaum said in a statement that the company will continue to look for acquisition opportunities.

Company
Based in Reading and founded in 1992, Sol-Tec is a Microsoft Azure integration partner. The company employs 71 people, according to LinkedIn.

People
ECI Partners – Tom Wrenn (partner).
IT Lab – Peter Sweetbaum (CEO).
Sol-Tec – Nik Topham (CEO, founder).

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