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Business & Economy

Horizon Capital-backed Agilico closes eighth acquisition

Agilico has announced the acquisition of the Diamond Group.

Bosses say the deal adds a further £2 million of high-quality revenues and more than 500 customers.

Diamond was established in 1992 and is headquartered in Gateshead.

The business supports SMEs with a set of solutions that include telecoms, IT and managed print services.

Officials say the acquisition further strengthens Agilico’s northern region, which is headed by regional managing director Warren Colby.

He said: “I am delighted with this acquisition – the team here in the north has known Diamond for a number of years and to have their people on our side is really compelling.”

Simon Davey, Agilico chief executive [pictured], said: “Our strategy is to build a UK-wide, SME-focused business that can provide customers with a great set of products and services.

“We know Diamond has a customer-centric culture and that is just what we are looking for in our acquisition plan.”

Luke Kingston, partner at Horizon Capital, added: “This acquisition demonstrates Agilico’s continued opportunity to grow through highly complementary acquisitions alongside continued organic growth.

“Diamond Group represents another high quality addition to the platform, and we look forward to continuing to support the group on its growth journey.”