TSG Intensifies Acquisition Strategy Following Profit Surge
Deal News | Jan 13, 2025 | EIN
Technology Services Group (TSG), a Gateshead-headquartered Microsoft Partner specializing in computing and AI, is actively seeking acquisition opportunities. CEO Rory McKeand announced a plan to make up to three acquisitions annually over the next three years, following a strong financial performance where turnover rose by over 12% to £39.8 million and operating profits increased by 49% to £4.64 million. The firm's growth strategy is supported by Pictet Alternative Advisors, a private equity firm that backed a management buyout last year. Following the acquisition of educational tech provider Dayta, TSG plans further deals, potentially expanding in the Midlands and South East. CEO McKeand also aims to enhance TSG’s reputation as a leading UK mid-market business tech partner and has introduced an employee benefit trust for staff participation in ownership.
Sectors
- Technology Services
- Private Equity
- Education Technology
Geography
- United Kingdom – TSG is headquartered in Gateshead and operates across the UK, with anticipated expansions in the Midlands, South East, and North East regions.
Industry
- Technology Services – TSG operates in the technology services sector, specializing in AI and computing solutions as a Microsoft Partner.
- Private Equity – Pictet Alternative Advisors, a PE firm, supports TSG's strategic acquisitions and plays a critical role in its management structure.
- Education Technology – TSG is expanding its offerings in the education tech market with its recent acquisition of Dayta, a multi-academy trust tech provider.
Financials
- £39.8 million – TSG's turnover for the financial year ending March 2024.
- £4.64 million – TSG's operating profits for the financial year ending March 2024.
- 612 billion – Assets under management by Pictet Alternative Advisors.
- £90,000 – Contribution to the TSG Corporate Foundation from annual profits.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Technology Services Group (TSG) | Target Company | Company | A Gateshead-based technology firm focused on AI and computing services, actively seeking acquisitions to drive growth. |
| Pictet Alternative Advisors | Private Equity Firm | Company | A private equity firm backing TSG's management team, facilitating acquisition strategies. |
| Dayta | Acquired Company | Company | An Aylesbury-based tech provider for multi-academy trusts, recently acquired by TSG to strengthen its education sector offering. |
| Rory McKeand | CEO | Person | CEO of TSG, driving the company's acquisition strategy and growth plans. |