Private equity firm NorthEdge has sold a majority stake in Cloud Technology Solutions Group to Marlin Equity Partners.
Founded and headquartered in Manchester city centre, CTS provides cloud transformation services and software products to a broad range of businesses.
Tom Ray, CEO of Cloud Technology Solutions Group, said: “We believe CTS is well-positioned to capitalise on the momentum behind Google Cloud Platform, one of the fastest-growing public cloud platforms.
“We see growing demand for our leading professional and managed services capabilities across the sectors and regions we serve. We are delighted to join Marlin, who bring a wealth of operational expertise and domain knowledge to our team, while continuing our relationship with NorthEdge.
“With their shared vision and support, we look forward to further strengthening CTS’s position in the European market and continuing to invest in CloudM.”
Jon Pickering, chief investment officer at NorthEdge, said: “It has been great working alongside the CTS & CloudM teams over the last four years. The team has worked incredibly hard since our initial investment in 2018, growing net revenues, developing a number of new proprietary products, scaling internationally and consistently investing in their people.
“Like Marlin, we believe that the company will continue to grow, solidifying its position as one of the leading providers of Google Cloud Services in EMEA and we are excited to remain part of the journey.”
Mike Wilkinson, a managing director at Marlin, said: “CTS has emerged as one of Europe’s largest and fastest growing Google Cloud partners. The business’s focus and expertise in services and software for the Google Cloud Platform and Workspace make it well positioned in a strategic growth market.
“We are excited to partner with the management team to build and scale the business to become an EMEA leader in Google Cloud services and independently develop CloudM.”
Arma Partners acted as exclusive financial advisor to Cloud Technology Solutions Group. Other advisers included Squire Patten, PwC and Altman Solon.