PORTFOLIO — TECH SERVICES

Acora

Acora provides a range of IT support and cloud solutions to help mid-market organisations modernise infrastructure and operate in the digital economy. It offers a full service suite, from service desk through to cloud transformation and ongoing managed service of cloud applications and infrastructure.

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Key Facts

Initial investment: 09/03/2020

Sector – Tech Services

Fund — Buyout Fund III

Status — Realised

Investment highlights

  • Completed five key acquisitions adding scale and increasing the company’s geographical footprint.
  • Delivered a rebranding exercise to reposition the business proposition focusing on customer experience.
  • Undertook a digitalisation project to automate the customer support function.
  • Delivered an environmental, social and governance (ESG) initiative focused on people strategy which has seen the business gain recognition in The Sunday Times Best Places to Work programme.
  • Augmented the senior team with the hire of an acquisition integration director.
  • Successfully exited the business in 2022, generating a return of more than 3x the original investment in under three years and doubling revenues to over £60m.

Partnership Motivation

Throughout the process, we were continuously impressed by the quality of Acora’s senior management team, the strategy they have developed, and the foresight they have shown in investing in high-quality people and processes ahead of growth.

The business has transitioned from a service desk provider to offering best in class cloud transformation and ongoing support services. The team have created an excellent platform to deliver fast-paced growth; via acquisition and additional investment in people and services.

David Rabson – CEO, Acora

David leads Acora with the vision, drive and commitment he expects from every member of the business. He believes in being accessible to both staff and clients in equal measure, leading by example and challenging himself to constant improvement every day.

Since leading the original management buyout in 2006, he has been committed to building a high performance, values-led culture with people at its heart. David’s vision has always been to create a game-changing company that redefines the value of service in the industry.

“I’d like to extend my thanks to Palatine Private Equity for their support over the last 30 months. From the outset, they have been a supportive investor and have been true to their word throughout; we now have the strongest possible platform for future growth.”

David Rabson
CEO – Acora

Investment Team