Redsquid funding
We are delighted to have partnered with Redsquid, a pioneering MSP and B Corporation renowned for its sustainable business practices and IT managed service solutions, providing a significant refinancing and growth facility. This strategic move is set to supercharge Redsquid's mergers and acquisitions activity, positioning the company for substantial growth before the close of FY25.
The partnership with ThinCats marks a pivotal moment in Redsquid's ambitious growth strategy. By securing this refinancing, Redsquid is poised to accelerate its M&A initiatives, enabling the company to scale rapidly and expand its national footprint. This collaboration will not only enhance Redsquid's financial capacity but also fortify its commitment to delivering sustainable and innovative IT solutions.
Redsquid's first acquisition under this new partnership is already in motion, with the company acquiring MSP IT Hotdesk, an experienced specialist supporting SMEs in Aberdeen and surrounding areas. This acquisition underscores Redsquid's strategic objective to expand its national footprint and reinforce its commitment to sustainability.
The acquisition of IT Hotdesk marks Redsquid’s 3rd acquisition this year and the 5th in the last 14 months. With the new partnership, Redsquid looks to supercharge it’s acquisition roadmap which it set double EBITDA performance by next March.
With the support of ThinCats, Redsquid is well-positioned to continue its trajectory of rapid growth and expansion. The refinancing will enable Redsquid to pursue further strategic acquisitions, scaling the business to new heights. This partnership represents a significant milestone in Redsquid's journey towards becoming the leading provider of managed IT solutions in the UK. Strategic advice was provided by Altenburg Advisory.
We are incredibly excited about our partnership with ThinCats. This refinancing agreement is a testament to our shared vision of driving sustainable growth and innovation. It provides us with the financial agility to pursue strategic acquisitions that will strengthen our service offerings and broaden our reach across the UKSohin Raithatha, CEO of Redsquid
Dave Sherrington, MD London and South, of ThinCats, said: "Sohin and the senior leadership team at Redsquid have established a distinctive and attractive proposition which has all the ingredients to build on its tremendous success to date. This new partnership means they are well positioned to capitalise on opportunities in a highly fragmented market. Our funding is ideal to support fast growing, acquisitive businesses and we are excited to be on this journey with them.”
