Palatine backed Acora completes first acquisition since investment
Managed Services IT company Acora has completed its first acquisition following Palatine Private Equity’s investment in the business in April 2020.
Acora’s strategy is to augment organic growth by adding strategically- significant acquisitions to bolster capability and scale, Veber Ltd, based in Watford, is the first of a number of acquisitions the business will look to make over the coming years.
Headquartered in Burgess Hill, West Sussex, and with offices in London and the Midlands, Acora specialises in the provision of managed services into the UK knowledge economy including sectors such as legal, financial services and insurance. Its acquisition of Veber adds further scale to its cloud capabilities. Veber offers high-performance, high-availability cloud hosting to clients requiring tailored implementations, UK data residency, and excellent levels of technical support.
David Hemmings, Acora’s Chief Acquisition Officer said: “Veber perfectly complements our existing private and public cloud offerings, and represents another positive contribution to our growth plans.”
Palatine Senior investment Director Andy Strickland added: “Acora has performed very well since our investment earlier in the year. Organic growth has been impressive, especially given the macro-economic backdrop.
“We are delighted the business has completed its first acquisition post our involvement. With a number of well progressed opportunities in the pipeline we are looking forward to further acquisitions in 2021.”
David Rabson, Acora CEO commented “In a very challenging year for all, it is encouraging to see the continued growth of Acora in terms of our people, our customer success and ongoing acquisition activity.”
“We have clear visibility and plans in place to repeat both our organic and acquisitive growth in FY21. This will be in parallel with launching our new value proposition to further support the client experience and positively impact our key sectors and segments.
“The Veber business bring with it a strong team, and 50 long-standing customers who will benefit from the wider offerings and scale that Acora can provide. We’re confident we can continue in our strategy of adding good people, great customers and complementary capabilities as we add further scale in the months ahead.”