SIX DEGREES Group has bought Docklands-based IT group Capital Support Group (CSG) in the first acquisition for the group since its takeover by private equity firm Charlesbank Capital Partners.
CSG offers cloud and IT services to hedge funds private equity investment managers and has a staff of about 130 people. Terms of the deal were not disclosed.
Six Degrees, which is led by boss Alastair Mills and counts former Vodafone board member Peter Bamford as chairman, has a customer base which includes seven of the world’s top 14 investment banks. It was sold by former private equity backers Penta Capital earlier this month to Boston-based Charlesbank.
“Capital Support is the clear market leader in their field and they significantly enhance our existing credibility and capability in the financial services market,” Mills said.
CSG posted £14m in revenue for the full year 2014, a 35 per cent rise on 2013. Earnings before taxes, interest, depreciation and amortisation was £2.5m.
CSG was formed 12 years ago and works with partners including Microsoft and Blackberry.