Ultima talks of growth prospects after landing PE investment
The intelligent automation specialist has gained a significant investment from a private equity backer that will give it the chance to dedicate funds to both its product strategy and M&A activity
Ultima Business Solutions is talking of growth opportunities after private equity player Apse Capital made a significant investment in the channel player.
With the fresh backing of Apse the firm is looking to increase the investment in its technology strategy, supporting the vision the business has around an intelligent automation approach, as well as making funds available for M&A activity, particularly in the cloud and managed services spaces.
Apse will get some bodies on the Board but Ultima will continue to be run by Scott Dodds as CEO and Max McNeill, who remains as a significant minority shareholder and member of the board.
Dodds has been at the helm of the channel player for the past three and a half years and has been navigating the firm to a position where it can expand on its heritage as an infrastructure player.
The key to its approach is to lean on its investment in consulting skills, with 300 plus of its 420 staff operating in those sorts of roles, and to develop automated services that can help mid-market customers free up internal resources, become more insightful and increasing their competitiveness.
“We are delighted to be working with Apse Capital, who have been highly engaged and extremely supportive of our strategy for growth in this dynamic and fast-moving technology industry. We have built a strong platform for growth and innovation for our clients and Apse will add significant value and acceleration to this platform through their deep sector knowledge and focus on digital strategy innovation," said Dodds.
"The future for Ultima, its strategic vendor partners and above all the delivery of technical innovation to our loyal and growing client base, has been enhanced significantly by the addition of the Apse Capital team," he added.
Tim Green, managing partner at Apse Capital, said that it was keen to take the firm to the next level and looked forward to working with Dodds and the rest of the Ultima management team: “Our investment in Ultima marks an exciting milestone in the company’s history.”
