Timico set to grow thanks to funding from Santander

Santander has supported Lyceum Capital with the £50m acquisition of Timico. This finance package will help Timico to become one of the leading managed cloud service providers in the UK.

The strategy includes investment in sales and marketing, developing a new go-to-market proposition and accelerating the company's shift to become an end-to-end managed cloud service provider. In addition to this, Timico’s organic growth plans will be accelerated through selective acquisitions.

Timico was founded in 2004 by Tim Radford and operates out of Newark, Winnersh and London, delivering transformative IT solutions, from consumption-based models through to managed infrastructure and aggregated cloud offerings. The business has a core client base of 500 mid-market and enterprise customers, revenues of £56m and employs over 300 people.

Over the past 12 years, the firm has grown substantially and has featured as one of the Sunday Times Tech Track Fastest Growing Companies.

Ben Marnham, CEO, Timico, said:

Building on our long-standing corporate banking relationship and the deep knowledge they have of our business, Santander were the obvious choice to continue providing our revolving credit facilities, as we enter this next, exciting phase of development.

Simon Hitchcock, Partner, Lyceum Capital, commented:

We're delighted that Santander will continue to deliver Timico's day-to-day banking requirements through its next phase of growth and development. Gerry and his team delivered the transaction swiftly and their sector knowledge was useful in ensuring the package met the company's needs.

Andrew Clayton, Head of Financial Sponsors, Santander, said:

We're very pleased to be extending our support to Timico, a long standing customer of Santander, and we look forward to working alongside the management team and Lyceum Capital in this next and exciting phase of growth.