Pictet Alternative Advisors’ private equity team has acquired MSP Technology Services Group (TSG), marking its second UK investment.
Newcastle-based TSG, a Microsoft Solutions partner, specialises in IT and cloud solutions for SMBs. With over 250 employees, TSG serves 1,300 clients in a growing market driven by outsourcing and digitalisation.
TSG’s management will reinvest proceeds from the transaction, Pictet explained.
Rory McKeand, CEO of TSG, said: “Pictet’s investment and hands-on partnership will catalyse the next stage of our growth.”
Pictet Alternative Advisors, part of the Pictet Group, manages investments in private equity, credit, hedge funds, and real estate, with €24bn in private equity assets as of March 31, 2024.
Andrzej Sokolowski, Head of UK for Direct Private Equity at Pictet, added: “We see significant potential to increase TSG’s growth organically and via M&A.
“That includes solution areas in Azure, Dynamics and cybersecurity, as well as accelerating deployment of AI tools.”
Pictet was advised by Sidley Austin, RSM, Deloitte, PwC Strategy&, Marlborough Partners, and KPMG.
