Technology solutions provider Kube Networks has received a £2.25m investment from Maven Capital Partners.
The Glasgow-based business specialises in managed IT and infrastructure services, cloud solutions, connectivity, voice and cybersecurity.
The funding will support the firm’s ambitious growth plans, which includes both organic expansion and a targeted buy-and-build strategy.
A first bolt-on acquisition is also expected to complete in the coming weeks, providing an immediate increase in scale.
The business has a diverse range of UK and international clients and is an accredited partner of Cisco, Datto, and Microsoft.
It has experienced a 27% increase in revenues over the past two years and is now looking to expand its customer base and increase upselling opportunities. The funding will also support investment in marketing, strengthening brand awareness and customer engagement.
“Partnering with Maven marks a significant milestone for KubeNet and we are excited to work with a private equity firm that shares our vision and importantly, understands our sector,” said Fraser Ferguson, director at KubeNet.
“At KubeNet we have a clear M&A strategy to align with our current organic growth, and this investment will accelerate our ambitious growth plans and further scale our proven and innovative solutions to a wider UK market.”
Andrew Muirhead, senior investment manager at Maven, added: “We are delighted to have secured this off-market opportunity for our investors, backing a well-established, profitable business with increasing levels of contracted revenues and operating in a market that is forecast for long-term growth.
“We have been impressed by managements’ plans for scaling the business, which includes a strong acquisition pipeline of highly complementary businesses that will expand its service capabilities, achieve operational efficiencies, and ultimately accelerate growth.”