A tech firm based in Tyneside is gearing up for growth following a hefty £7m investment. ITC Service, an IT managed service provider in Hebburn, South Tyneside, founded by Christopher Potts and Peter Anderson in 2016, has been steadily expanding its reach to cater to over 400 SMEs in the North East. The company’s range of services, from managed IT support to cyber security and digital transformation, are in high demand.
With the recent injection of funds from growth capital investor BGF, ITC is ready to take its growth to the next level through both organic expansion and strategic acquisitions. Founder and director Mr. Potts expressed his excitement about leading the company forward and supporting local businesses in achieving their goals.
The deal was facilitated by investors John Healey and Christian Pollard from BGF’s Newcastle office, with Lee Shorten set to join the company board as non-executive chair. BGF’s Mr. Healey praised ITC’s track record of delivering exceptional client outcomes and highlighted the company’s potential for further growth in the regional market.
Established in 2011, BGF has a strong track record of investing in UK firms and is known for its patient approach to nurturing businesses. For this deal, ITC and its shareholders were advised by Mincoffs and RSM, while Womble Bond Dickinson and Tax Advisory Partnership provided counsel to BGF.
The future looks bright for ITC as it embarks on this new chapter of expansion and innovation in the tech industry.