Tyneside tech firm secures £7m investment to fuel growth

IT managed service provider, ITC Service, has secured a  £7m investment from BGF to accelerate its growth and acquisition strategy.

Founded in 2016, ITC Service has since established itself as a trusted partner to over 400 SMEs across the North East, delivering a comprehensive range of IT services, including managed IT support, cybersecurity, cloud solutions and digital transformation.

The fresh investment will enable ITC Service to further expand its operations through both organic growth and strategic acquisitions. The company is actively exploring opportunities to acquire complementary businesses in neighbouring regions to strengthen its market position and enhance its service offerings.

This investment marks a significant milestone for ITC Service, positioning the company for continued success and growth in the competitive IT services market.

Christopher Potts, founder and director, ITC Service, said: “Over the last 18 years, we have built a highly successful, respected business that has developed a strong and valued client base. With the ongoing support of my co-founder Peter, I am excited to lead ITC forward, to continue to grow and support our region, to help more local businesses achieve their goals and complete a carefully executed M&A strategy. In order to fulfil this potential, we need an investment partner that is willing to take a long-term approach to support our growth ambitions. With an excellent track record of backing exciting and dynamic businesses in the North East, we are confident BGF is the right choice and we’re delighted to have the team onboard.”

John Healey and Christian Pollard, investors from BGF’s Newcastle team, led the investment deal. To further bolster the company’s leadership team, Lee Shorten will join the board as non-executive chair.

Image: Peter Anderson (L) and Christopher Potts (R) (source: ITC Service handout)