Hertfordshire-based commercial property IT and telecoms provider Modern Networks Ltd have expanded into the South West following the acquisition of Exeter-based Bluegrass Group.
Bluegrass Group provide IT support and managed services to businesses across the South West. Modern Networks Ltd are backed by private equity firm Horizon Capital, suggesting a potential for rapid growth.
The move is expected to boost Modern Networks’ team to more than 165 – operating from Hertfordshire to Cambridge, Guildford and Exeter. With both companies’ values aligning, their combined reach in the market should lead to increased customers and continued growth.
Louisa Leach, Senior Associate in the Corporate team, led on the deal. She said: “It’s great to be able to bring these two IT service providers together at such a crucial time for both parties. I’m very pleased we’ve been able to simultaneously help Modern Networks expand into the South West and find a new home for Bluegrass Group.”
Modern Networks’ CEO Matthew Reeve said: “Modern Networks are extremely pleased to join forces with Bluegrass, expanding our geographical reach into the South West of England. We are extremely grateful to Louisa and the HCR team in helping us deliver on another successful bolt on.”