ThinCats, the leading fintech lender, has successfully facilitated £1m+ of crucial acquisition funding for communications company, The Technology Group. This funding has enabled The Technology Group to acquire a second Yorkshire base.
TTG is a managed communications provider, helping businesses and organisations to communicate better with their customers and teams using any device, anywhere, at any time. Its next generation service know as Unified Communications allows for voice, video, chat and screensharing through a single portal, fully integrated into their customers telephone system.
Having established a strong brand for their business across the UK, the directors looked at the company’s next stage of development. In order to achieve its ‘Vision 2022’ target of £15m turnover, The Technology Group needed to harness a flexible debt-facility which would enable acquisitive and organic growth.
ThinCats facilitated a unique growth funding strategy bespoke to The Technology Group. The deal was spearheaded by Ben Kimball, business development director for Yorkshire at ThinCats.
David Marsden, co-founder & acquisitions director, The Technology Group, said: “Our ambitious, yet highly achievable four-year growth strategy – one acquisition per year – will see us treble our turnover. This funding from ThinCats is a crucial step to achieving our goals. The team at ThinCats were efficient, accommodating and keen to formulate a plan that worked for us.”
Ben Kimball, director of regional business development, ThinCats, said: “At ThinCats, our aim is to encourage and facilitate the sustainable growth plans of SMEs across the UK. The Technology Group stood out to us as an example of what businesses should be doing, and their clear growth strategy meant that we could easily facilitate a flexible deal. We look forward to furthering our flourishing partnership.”