Celerity's £50m+ Turnover Target Achieved with Silverstring Acquisition
Deal News | Jul 02, 2025 | Business Cloud
Celerity, an IT services provider based in Lancashire and backed by Business Growth Fund (BGF), has announced the acquisition of Silverstring, a specialist in data protection and cyber recovery assurance based in Banbury. This strategic move aims to bolster Celerity's capabilities in cybersecurity and hybrid-cloud systems, setting a path to surpass £50 million in turnover and expand staff to 94 members. The acquisition also solidifies a partnership with Predatar, an innovative recovery assurance technology platform, with Celerity named as the preferred UK partner. Predatar will function as a separate entity under Silverstring's founder Alistair Mackenzie, ensuring continued innovation and growth. This deal is part of Celerity's growth strategy to enhance expertise in data protection and cybersecurity, as emphasized by Celerity's CEO, Craig Aston, and BGF partner Harry Jones. The deal continues a trend of strategic growth for Celerity following a £15 million investment in 2021 and the acquisition of Chilli IT earlier.
Sectors
- Information Technology
- Private Equity
Geography
- United Kingdom – Celerity is headquartered in Lancashire with operations in Manchester and is acquiring Silverstring based in Banbury. The deal also involves Predatar, further cementing UK geographic ties.
Industry
- Information Technology – The article discusses acquisitions within the IT sector, specifically focusing on cybersecurity and data management solutions.
- Private Equity – Celerity is backed by Business Growth Fund (BGF), a private equity firm that supports its expansion strategy.
Financials
- £50 million – Celerity aims to surpass this turnover mark with the acquisition of Silverstring.
- £15 million – Investment received by Celerity from BGF in 2021.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Celerity | Acquirer | Company | An IT services provider aiming to expand its cybersecurity and hybrid-cloud capabilities. |
| Silverstring | Target | Company | A data protection and cyber recovery company being acquired by Celerity. |
| Business Growth Fund (BGF) | Investor | Company | A private equity firm backing Celerity in its growth endeavors. |
| Predatar | Technology Partner | Company | Provider of innovative recovery assurance technology, partnering with Celerity post-acquisition. |
| Alistair Mackenzie | Leader (Predatar) | Person | Founder and former CEO of Silverstring, now continuing to lead Predatar. |
| Craig Aston | CEO (Celerity) | Person | CEO of Celerity, focused on expanding its market position and capabilities in cybersecurity. |
| Harry Jones | Partner (BGF) | Person | Partner at BGF, involved in Celerity's growth strategy through strategic acquisitions. |