Software tester and IT service solution provider Equity Networks has received a capital allocation from Coniston Capital, the company told QA Financial.
Although the firm declined to disclose any financial details, Equity Networks said the investment was “to support our strategic acquisition plans.”
Equity Networks, established in 2011 by co-managing directors Alex Hall and Marcos Reid, specialises in a range of IT and software services. These include managed software and app testing, cloud infrastructure as well as data security and testing.
The fresh influx of capital from Coniston Capital is set to facilitate further acquisitions with multiple prospects already identified, Hall said.
Equity Networks has had a very acquisitive year so far. In 2024 alone, the company completed five takeovers.
In addition, he added that Edward Spurrier (left) is slated to join Equity Networks’ board as a non-executive chairman.
Spurrier brings extensive experience in IT and communications, having previously held executive leadership positions, including as CEO of Alt Networks and chairman of Wavenet.
Next stage
Investor Alfred Chambers, who spearheaded the transaction on behalf of Coniston and who will also join the Equity Networks board, shared with QA Financial that Equity Networks has “a clear focus” on customer service and an ambitious buy-and-build strategy.
“They already have experience in acquiring and growing businesses in an attractive sector and we believe that, with Coniston’s support, Equity Networks will complete several more transactions,” he added.
Echoing this sentiment, Hall expressed optimism about the future collaboration.
“Coniston’s expertise, experience, and funding will enable us to accelerate our acquisition plans, to take advantage of exciting opportunities,” he said.
“We enter the next stage of our growth journey.”
Stay up to date and receive our news, features and interviews for free
Our e-newsletter lands in your inbox every Friday. Sign up HERE in one simple step.
ALSO READ
