Maven Capital Partners has completed a £2.25m investment in Glasgow-based Kube Networks, a technology solutions provider specialising in managed IT, cloud, connectivity cyber security.

The funding, provided through private equity co-investment network Maven Investor Partners, should support KubeNet’s growth plans, which include both organic expansion and a targeted buy-and-build strategy.

A first bolt-on acquisition is expected to complete in the coming weeks providing an immediate increase in scale and offering significant synergy potential.

Founded in 2012, KubeNet has established itself as a technology partner of Cisco, Datto and Microsoft. It has reported a 27% increase in revenue during the past two years, by expanding its customer base and increasing upselling opportunities.

The funding will also support investment in marketing, strengthening brand awareness and customer engagement.

Fraser Ferguson, director at KubeNet, said: “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.

“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, commented: “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.“

The deal's advisors were Knight Corporate Finance, CMS for legal, Azets for tax, OBT Advisory for commercial, Locktons for insurance and Leckie Kershaw for IT.

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