NorthEdge acquired a majority stake in Jigsaw24 while Lloyds provided debt facilities for the deal, whose amount was not disclosed. In conjunction with the transaction, Ashvin Pathak, an experienced IT investor, has been appointed as non-executive chairman. NorthEdge’s managing partner Grant Berry and investment manager Tom Rowley have joined Jigsaw24’s board as non-executive directors.
The company intends to use the funds to grow (both organically and through acquisitions) its application development and managed services offerings focused around the Apple ecosystem.
Founded in 1992 and led by CEO Martin Balaam and managing director and founder Roger Whittle, Jigsaw24 offers IT solutions to businesses across the UK with particular expertise in Apple, Adobe and creative solutions for the UK’s creative, education, commercial and public sectors.
Jigsaw24, which also has a service operation based at MediaCityUK in Salford, employs 143 people and has turnover of £60m.
It plans to open a facility in London later this year.