Date of investment:
Buy & Build:
3 completed acquisitions
“Having founded Modern Networks and built it organically I wanted to accelerate our growth and acquire other businesses in our market. Horizon Capital were the natural choice for the next stage of our journey when from the very first meeting they quickly demonstrated their understanding of my ambition and our market. Their impressive track record of working with entrepreneurial founders like me and their focus on buy and build in the technology sector stood them apart from other potential investors.”Matt ReeveFounder & CEO, Modern Networks
Horizon Capital is a long term investor in the IT managed service market. Recognising an opportunity to consolidate the fragmented IT Support and growing UC&C market we identified and first approached Modern Networks in 2019 and invested in 2021.
Modern Networks provides IT Support, connectivity and communications in an easy to consume single solution to over 2,000 offices and shopping centres across the UK. From its support centre in Hitchin the business delivers high quality 24/7 support to users.
The business operates within a large and highly fragmented market with significant potential for consolidation.
The Journey so far
At completion, Horizon Capital appointed an experienced Chairman together with a specialised Acquisitions Director both of whom we had successfully worked with before.
The enlarged management team are working together successfully both on the buy and build strategy but also on investing in the platform to ensure it can scale in the accelerated manner the ambitious plan calls for, this includes:
- Implementing Salesforce to manage the new business pipeline
- Building a vertical go to market capability to enter additional sectors
- Investing in systems to support the soon to be much larger business
Buy and Build
Modern is embarking on an ambitious buy & build journey, acquiring high-quality businesses that will deepen capability in Connectivity and IT Managed Services across the whole of the UK.
Modern’s heritage is in the Built Environment and Commercial Real Estate end sectors, with past and future acquisitions diversifying into other relevant adjacent end sectors such as High-Tech Science Parks and Education.