London, 25 September 2023
Macquarie Capital Principal Finance (Macquarie Capital) has today announced the majority acquisition of Zenzero Solutions Limited (Zenzero), a next generation provider of IT Managed Services to over a thousand SMEs across the UK.
Zenzero is a one-stop-shop for customers, providing future-ready managed IT, cyber, data and digital services, enabling a broader and more differentiated offering to SME and mid-market customers.
Over the last three years, Zenzero has significantly expanded its capabilities and customer reach, through strategic acquisitions and market leading organic growth. The new partnership with Macquarie Capital will enhance this growth potential, by providing both flexible growth capital and expertise. The investment represents a full realisation for Fordhouse Capital LLP who invested in Zenzero in 2020.
Michael Bateman, CEO at Zenzero, said: “I am extremely excited to lead Zenzero through its next phase of development and incredibly proud to work alongside our excellent team to take Zenzero to new heights. I am grateful to Fordhouse for the support they have provided in the early part of our journey. The opportunity for growth within UK SMEs, and the mid-market, for our services is clear. As a team, we look forward to building on our success to-date through the new partnership we have with Macquarie and continuing to invest in our people, service offerings and high-quality acquisitions.”
Adam Joseph, Head of Private Equity for Macquarie Capital Principal Finance Europe, said: “We’re excited to be partnering with Zenzero at a time of sustained growth for the company. The transaction sees us build on our track record of supporting innovative technology service providers in the UK, and demonstrates our ability to deliver an efficient transaction in a short timeframe. We look forward to helping the company grow both organically and via acquisition”.
Nicholas Ashford, Partner at Fordhouse commented: “We are privileged to have worked alongside Zenzero on its journey from an owner-managed business to high-quality mid-market platform and, most notably, on acquisitions and integrations. The team at Zenzero will continue to achieve great success and we are delighted to have helped them find a fantastic partner in Macquarie who will support them in becoming one of the UK’s leading MSPs over the coming years. The outcome achieved in under 3 years is a great result for everyone involved.”
Macquarie Capital Principal Finance has worked with a variety of small to medium sized businesses, covering a variety of sectors – including technical services, healthcare and technology companies. The financial terms of the transaction remain undisclosed.
Founded in 2004, Zenzero is a leading Microsoft solutions partner headquartered in Coventry, England with offices across London, Fareham, Guildford, Essex, Staffordshire, Birmingham, Aberdeen and Inverness. It supports over 1,000 clients to deliver and manager business critical technology solutions to over 15,000 users, with customer net retention rate of >100 per cent, and industry-leading customer satisfaction score of 98 per cent.
Fordhouse is a business services focused investor that partners with owner-managed businesses and helps to transform them into premium, high growth, investable mid-market platforms in a short space of time. Fordhouse helps businesses to achieve rapid growth through strategic M&A on a risk adjusted basis by providing integration expertise and resources.