Growth capital investment for Jigsaw 24

The IT, Telecoms and Software team at Transcend Corporate, led by Ian Aldridge, has advised incoming chief executive, Martin Balaam, and a Newco entity, Insanely Great Limited, on a growth capital investment in Jigsaw Holdings Limited (trading as Jigsaw24) by NorthEdge Capital LLP, the private equity firm focused on investing in businesses based in the north of England.

Jigsaw24 offers IT solutions to businesses across the UK and has particular expertise in Apple, Adobe, and creative solutions. Founded in 1992, the company has an impressive 21-year track record of year-on-year growth, and has capitalised on the increasing popularity of Apple products, mobile devices and the development of associated apps for the workplace. Jigsaw24 is headquartered in Nottingham, with a service operation based at MediaCityUK in Salford. It employs 143 people and has turnover of £60million. The business plans to open a facility in London later this year.

JHL, whose wholly owned subsidiary Jigsaw Systems Ltd trades as Jigsaw24, offers IT solutions to businesses across the UK and has particular expertise in Apple, Adobe and Creative solutions. The company, founded in 1992, has an impressive 21 year track record of year-on-year growth and has capitalised on the growing popularity of Apple products, mobile devices and development of associated apps for the workplace.

NorthEdge’s majority investment backs the management team, led by Martin Balaam, and managing director and founder, Roger Whittle. The investment will accelerate growth plans, both organically and through acquisitions. The business has a loyal customer base in the UK’s creative and education markets and has moved into other sectors, including commercial and public sector. Jigsaw24 will use the funding for significant expansion in these growing sectors, and in its application development and managed services offerings focused around the Apple ecosystem.

Transcend director, Ian Aldridge, commented, “There are significant opportunities for further growth as Apple gains a wider share of the enterprise market, and this investment provides the capital for more accelerated expansion. There is also huge potential in the application managed services offering of the business, and also in mobile device management as an increasing number of employees use smartphones and tablets as part of their core workflow.”

Jigsaw24 chief executive, Martin Balaam, said, “Jigsaw24 has grown considerably in recent years as Apple and creative IT solutions have become adopted beyond the more usual creative and educational sectors. More and more enterprises are embracing Apple and iOS technology, transforming how their users interact with each other and their customers, creating efficient workflows and a paradigm shift in user and customer experience. The investment from NorthEdge provides us with the platform to accelerate growth and expand our UK footprint.”

Martin also said, “I have worked with Ian Aldridge on previous deals and, having identified Jigsaw24 as a key, business growth opportunity, I had no hesitation in teaming up again with him and Transcend to help effect this deal. It has been quite a complex transaction and Transcend has supported us all the way.”

Debt facilities for the deal were provided by Lloyds, while other advisers included Deloitte (corporate finance advisers to NorthEdge), PwC (financial due diligence and tax structuring), Gateley (legal advisers to NorthEdge and Newco), Heatons (legal advisers to management), Cooper Parry (corporate finance advisers to the vendors), and Browne Jacobson (legal advisors to the vendors). Partner, Ray Stenton led the investment for NorthEdge.