Sector:

Technology Services

Investment year:

2017

Year of sale:

N/A

In Horizon, we saw a team that truly understood our business as well as the sector dynamics and shared our view on future strategy.

Tim RadfordFounder

Business

Timico is a UK-wide Managed Cloud Service Provider (MCSP) with operations in Newark, Reading and London.

It delivers a comprehensive range of managed services including IT, hosting, network connectivity, mobile solutions and Unified Communications with full consultancy and professional services support.

Timico has annual revenues in excess of £50m pa with a core mid-market and enterprise base of 500 customers.  Over 85% of its revenues are recurring, based on 3-5 year contract terms.  It has grown substantially over the last 12 years and now employs over 300 people.  It has regularly featured as a Sunday Times Tech Track Fastest Growing Company.

Market

Timico has a large addressable market in the UK, estimated to be c.£19bn. Its growth is driven by the move from in-house and on premise provision to outsourced bundled solutions.  Customer spend in Timico’s core market is forecast to grow by 7-9% per annum, with high growth in cloud hosting, fully managed services and internet telephony.

Strategy

Through Horizon’s investment, Timico will:

  • Complete its transformation to become a consumption based provider of managed cloud services with strong organic growth and 20% EBITDA margins
  • Develop a fully integrated solution-led end to end service comprising of: Managed IT, Hosting and Connectivity
  • Develop its go-to-market strategy and sales capability to drive organic growth in fully bundled services in targeted vertical markets
  • Execute a targeted acquisition strategy to build and integrate deeper capabilities in security and data management
News & Insights

Related Infomation

December 17, 2017 in Portfolio News

Sabio strengthens Board with two new appointments

Horizon-backed digital customer engagement technology specialist Sabio has strengthened its board with two key new…
Read More
June 10, 2019 in Featured, Portfolio News

Totalmobile wins the 2021 UK census contract

Horizon-backed Totalmobile, one of the UK’s emerging leaders in Field Service Management Software Solutions, having…
Read More
August 6, 2018 in Portfolio News

Bellrock awarded a place on Crown Commercial Services Framework

Horizon backed technology-enabled facilities management (FM), Bellrock, has been awarded a place on the Crown…
Read More