NatWest investment deal funds acquisition of Burnley IT firm

A Burnley-based IT business has been acquired, for an undisclosed sum.

Cardium Outsourcing is now part of the Everything Tech Group, following the deal, backed by NatWest Bank.

Everything Tech Group is based in Sheffield, but has offices in Manchester and Derby.

It began life in 2021 as MITSG, founded by Mark Allen and Phil Smith and has grown rapidly following a series of acquisitions through a secured investment from BOOST & Co in February 2022 and went on to complete four acquisitions that year, including IT Farm, the CSS Group, cloud communications specialist Nexbridge Communications and finally Everything Tech.

Cardium Outsourcing has traded as Your Office Anywhere.

Mark Allen, Everything Tech Group CFO, said: “The support from Max Ward at independence Capital alongside NatWest underpins our strategic acquisition approach, enabling us to deliver our growth plans at an accelerated pace.

“Armed with this investment, we will continue to grow both organically and through M&A during 2024 and beyond, aligning with our clear business objectives and vision for the future.

“The immediate M&A growth this investment will finance allows us to scale up faster and amplify our current growth further.”

Following the latest acquisition, he said: “It’s not just Enterprise customers who need visibility, cost control and security from cloud platforms. We felt this presented an excellent opportunity to extend our products further and was an excellent fit for Everything Tech. It will bolster and enhance our existing portfolio.”

Tom Murray, Vice President of UK Financing Solutions at NatWest, said: “At NatWest, we are proud to champion ambitious businesses by providing smart financing solutions that unlock strategic growth opportunities for our clients.

“This is a great example of a flexible investment that will support Everything Tech Group, as the business goes from strength to strength.”