Everything Tech Group (ETG) has acquired SIRE Technology and Bastion Key Limited (trading as GiBVault).
The double acquisition is the eighth in four years and marks the expansion of ETG to become a £24 million and 130-strong technology company.
The move will result in the senior leadership of both companies joining the management team of the enlarged group, set up to capture further market share in key segments.
GiBVault has a global customer base spanning Europe, the Caribbean and Asia. The company provides fast, secure, always-on computing resources that host high-demand production workloads for financial services, gaming, blue-chips and public sector companies.
Berkshire-based SIRE Technology, has more than 30 years’ experience, specialising in IT managed services, cybersecurity and cloud solutions for UK SME and enterprise customers.
ETG was founded in 2021 by Mark Allen and Phil Smith, having previously scaled and exited GCI Communications for almost £200 million. Allen, also the CFO, said, “We see a huge opportunity to create clear expertise in helping customers with complex needs. To capitalise on this, we are combining expertise in technology and talent. This double acquisition cements this and gives us scale and access to a global customer base.”
The acquisition was supported by a fresh injection of capital from the group’s entrepreneurial shareholder base, alongside expanded acquisition facilities provided by Natwest’s structured finance team.
Independence Capital also supported the group with buy-side, debt and capital advisory. Max Ward, founder of Independent Captital, said, “It’s extremely rewarding to be able to support the ETG team to land this double acquisition. In a congested market, ETG is looking to differentiate itself with high-growth, and strategic acquisitions to become genuinely category leading. To be able to pair that now with cutting-edge expertise in regulated financial markets and next generation economies like gaming is really exciting.”
Tom Murray, vice president of UK financing solutions at NatWest, said, “We are delighted to continue supporting Everything Tech Group as it expands its portfolio and accelerates its growth trajectory. This acquisition underscores the group’s commitment to providing cutting-edge solutions to businesses across the UK.”