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The deal marks the third M&A move the Rigby Technology Investments-backed firm has made, following on from its deals in NGC Networks and 4Sight Communications last year.
Bamboo is a respected channel player that specialises in providing managed services around comms and IT, and should support the stated ambition of CloudClevr to become a next-generation MSP.
The motivation for adding Bamboo is not only to gain further geographical coverage of the South West, but to gain access to a firm with expertise in IT services, mobile comms and broadband.
Following the announcement, Steve Harris, CEO of CloudClevr, has become Bamboo CEO, with Lorrin White and Stuart Davis staying on in advisory roles.
Davis, one of the founders of Bamboo, said CloudClevr coming in would help the business go to the next stage of its development.
“It’s clear there is a very strong cultural and strategic fit between CloudClevr and Bamboo,” he said. “I’m pleased the business will continue to thrive under new leadership and as part of the CloudClevr group. I’m looking forward to working with Steve and the team as Bamboo and CloudClevr enter this exciting period of growth.”
Benefits to the larger organisation
Harris said CloudClevr would support the existing management team at Bamboo, and that the business brought clear benefits to the larger organisation.
“Bamboo brings key complementary capabilities and additional scale to the CloudClevr group that further underpins our deep technical capability across a truly converged portfolio,” he said.
CloudClevr launched back in November 2022 as a fresh name in the managed services space. Rigby Technology Investments (RTI) has a majority stake in the business.
From the very start, the firm made it clear it intended to grow using acquisition as a tool and to take advantage of the financial muscle that had come from RTI.
Speaking at the time, Harris outlined the ambition for the business. “CloudClevr will be clearly differentiated to other MSPs through the delivery of a highly curated set of converged managed service capabilities across both communications and IT,” he said.
The year has already started with a steady trickle of M&A activity across the industry. Notable deals already struck in January include the $14bn move by HPE for Juniper Networks, SonicWall picking up Banyan and, closer to home, Giacom snapping up Microsoft-focused intY.