Saffery advises Redsquid on fifth strategic acquisition

Redsquid Communications Limited (Redsquid), the award-winning IT managed service provider, has expanded into Scotland through its acquisition of IT Hotdesk Limited (IT Hotdesk).  Redsquid has also secured a new debt facility with Thincats to support with its ongoing acquisition strategy.

This marks Redsquid’s fifth acquisition in the past 18 months and further demonstrates its strategic objective to expand its national footprint and create a presence in various local regions.  The acquisition of IT Hotdesk will specifically enable Redsquid to provide personalised support to SMEs in the Aberdeen region as well as deliver IT solutions across Scotland.

How we helped

Our Corporate Finance team, led by Niraj Patel, with support from Sophie Lomas, Rob Sansom and Will Hodges, worked closely with management throughout the transaction process. The team provided pre-lend due diligence services to help secure the new debt facility with ThinCats and buy-side financial due diligence on the acquisition of IT Hotdesk.

Niraj commented: “We’re thrilled to continue to provide our services to Redsquid to support its growth trajectory. We look forward to working with its excellent management team on future strategic acquisitions.”

Sohin Raithatha, CEO of Redsquid, commented: “Saffery has been instrumental in the successful completion of our latest acquisition. Their efficient, professional team provided invaluable support throughout the process, ensuring everything went smoothly.”

We also worked closely with Altenburg Advisory, who provided debt advisory services.

We have extensive experience of providing both sell-side and buy-side support to clients across a range of sectors. More information is available on previous transactions we have worked on.