MEMBER NEWS
Air IT announces its third pair of acquisitions
Air IT has continued its rapid expansion across the UK by making it six acquisitions in six months. The Sandiacre-based IT managed service provider (MSP) continued its
merger and acquisition growth strategy by taking over Kent-based InfoTech Solutions (UK) Limited and Cheshire-based Concise Technologies Limited for undisclosed amounts last month. The investments, backed by August Equity, marked the third time it has
acquired two businesses simultaneously – the first pair in October 2020 and the second in December 2020. CEO John Whitty, who has led the expansion since joining in January last
year, said: “Both InfoTech and Concise Technologies have outstanding reputations, and we are thrilled to have them on board. We know they will be a great fit for the Air IT group, considering their track record when it comes to customer service and satisfaction.”
‘Entering the North West has always been one of our strategic goals’
As a result of these acquisitions, Air IT has now established itself in the North West, while also boosting its existing presence in the South East. The addition of InfoTech and Concise Technologies is part of Air IT’s
plans to expand across the UK and will see the group’s 175-strong workforce increase by 50 with an additional 250 customers. John added: “We want to be regarded as the de facto MSP of choice for
SMEs across the UK and these acquisitions allow us to expand our footprint and gain skilful, like-minded team members. “Entering the North West has always been one of our strategic goals,
along with future growth in the North East, and we now have the capability to deliver a national offering, serviced locally - which is so important to SMEs.” Concise Technologies and InfoTech share the same client-centric
approach, and each has reported impressive organic year-on-year growth. David Southern, managing director of Concise Technologies, said:
Air IT CEO John Whitty
“Becoming part of the Air IT group will allow us to offer even more strategic and business-enhancing services to our clients.” InfoTech managing director Jason Ford added: “Being part of this select
group will allow us to expand our service offering while we bring to the table our expertise in the financial, construction and manufacturing sectors.”
Budget will cause property market to soar
Nottingham estate agent Gascoines expects the property market to soar following the spring budget. Rishi Sunak’s spending plans, announced on 3 March, included an extension to the stamp duty holiday until 30 June 2021. A Government-backed 95%
mortgage scheme will also be re- introduced to help current homeowners, as well as first-time buyers, purchase a house for up to £600,000 with a 5% deposit. Gascoines office manager Jess
Mitchell believes that the initiative will help “generation rent” become “generation buy”. “Following the initial
Government announcement to introduce a stamp duty holiday, the market saw house hunters relieved of costs and induced a mini housing boom as sellers were eager to take advantage and complete transactions in time,” said Jess. “We’re expecting to see a high number of properties listed over
6 business network April 2021
the coming weeks and offers placed in very short time periods, from now until September, to really make the most of the extension.” The family-run estate agent has
more than 65 years of experience in the Nottinghamshire property market. In the past 12 months, the firm
witnessed lenders withdrawing 95% mortgage offerings and demanding deposits of between 10% and 15% – along with much higher interest rates. Jess added: “We’re starting to see
these rates dropping back to normal levels again and with the new Government scheme, we hope to see more first-time buyers coming through the door and getting their foot onto the property ladder. “My advice would be to always
Jess Mitchell
aim for higher than your deposit and if possible, have this ready – along with a mortgage in principle – before you start looking for a house and seek advice from your local estate agent or mortgage adviser.”
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