Northedge Capital puts a piece in the Jigsaw as it makes second investment

In its second deal since launch, the private equity house has taken a majority stake in the £60m-turnover Nottingham-based business and will help it to accelerate growth plans.

Ray Stenton, a partner at NorthEdge, said: “Jigsaw 24 is an established player in the Apple and creative IT solutions market with a well-established growing customer base.

“The business has enjoyed sustained growth through operating in sectors such as the creative industry and education, and capitalising on the increased acceptance of Apple solutions in the workplace.

“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.

“Jigsaw 24 has succeeded by adapting quickly to opportunities in the market and it is exactly the kind of business that NorthEdge looks to support. Our investment will ensure it has the backing to go from strength to strength.”

Martin Balaam, chief executive at Jigsaw 24, said: “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.”

Ashvin Pathak, an experienced IT investor, has been appointed as non-executive chairman. Lloyds provided debt in the deal.

NorthEdge announced earlier this week that it has achieved final close on its maiden fund at the maximum level of £225m. It is one of the largest first-time fundraisings since 2008.

Co-founders Grant Berry, Andy Ball and Dan Wright launched the fund to target Northern companies seeking equity investments to support MBOs, development capital and equity release.

NorthEdge has offices in Leeds and Manchester.