The Timico Technology Group (a managed cloud service provider) recently announced that it had secured a £50 million investment from Lyceum Capital to facilitate its growth as a market-leading cloud and IT provider. The investment made Lyceum Capital a majority shareholder in Timico, but will allow the company to accelerate it’s currently ambitions goals for growth with further finance introduced to systems, capabilities, and people.
Timico have achieved the funds that they need to make their mark in the space for managed IT services, and will allow for selective acquisitions that have been designed to boost the inherent expertise and skills that the brand already possesses, while bringing additional strategic services to the company too!
As part of the development, Timico will be adding Geoff Neville and Simon Hitchcock of Lyceum to their senior line-up as non-executive directors, though Tim Radford (Timico’s founder) will remain on the board as a non-executive director too.
The Growth of Timico
Since he joined the business in September 2016, the CEO for Timico, Ben Marnham has been focused on delivering a programme of evolution within the company, restructuring the business around a singular service model and brand, and therefore honing the company’s strategy around its principal strengths. Timico’s latest position as an end-to-end Managed Cloud Provider gives the company the flexibility it needs to excel in the managed IT and cloud sectors, with complementary services in its network connectivity, mobile capability, and unified communication services.
Besides the introduction of private equity investment, Ben and other members in the management team have invested into the company. According to Marnham, working with Lyceum Capital simply represents the logical next step in the evolution of the business, which will build upon the foundations that were built by Tim and the team over the years. Lyceum have plenty of proven expertise in the sector, and shares a similar vision for Timico’s future. Ben noted that he was delighted that Timico now had the opportunity to realise their plan for enriching their service portfolio and proposition to better serve their client’s needs and fulfil their ambitions as a market-leading provider of end-to-end cloud and IT solutions.
A Powerful Investment from Lyceum Capital
According to the partner at Lyceum Capital, Simon Hitchcock, Timico is already being managed by an impressive and capable team, with a well-defined strategy for success. For Lyceum, it’s clear that Timico’s clients are at the heart of their plans for development, and can look forward to a more rewarding relationship with the business as it progresses. He noted that Lyceum were “delighted to be supporting Ben and the team” during the next stage of their growth.
