Mac specialist Jigsaw24 has made its second acquisition in the space of five months as it starts to take advantage of the financial muscle that its private equity backer can deliver,
Earlier this summer the reseller picked up Square Group in a move that would have taken its turnover past the £80m mark and it has followed that up with a deal to buy Matrix Software Development.
Matrix has its own software application, Matrix CMS, which is used widely in the retail market and is a good addition to an Apple and Adobe product ecosystem and as a result should sit well in Jigsaw24's portfolio.
As well as expanding through acquisition Jigsaw24 has also been driving its business organically and has recently cut the ribbon on a central London customer experience and service centre for customers looking for Apple and Adobe products and support.
The firm is enjoying growth on the back of increased demand for Apple products and operates out of offices in Nottingham and Manchester and has seen its fortunes improve since private equity backer NorthEdge Capital invested in Jigsaw24 last year.
“Matrix is a perfect fit for Jigsaw24, with a software product that sits well with Adobe and Apple and complements our existing range of services and our Creative customer base. Furthermore, with the support of Jigsaw24’s sales and marketing team we are confident that future sales of Matrix’s software can be significantly enhanced," said Martin Balaam, CEO of Jigsaw24.
Tom Rowley, investment director at NorthEdge Capital, said that it was the second acquisition this year on the back of sustained sales growth in the business: “The transaction represents delivery of our commitment to increase the proportion of higher margin support and service revenues both through organic growth and bolt on acquisitions. The purchase of Matrix strengthens Jigsaw’s offering, and puts the business in an enviable position from which to continue its growth.”