finnCap Private team have helped Flywheel IT Services raise £6.4 million in private funding.
Flywheel IT Services was founded by CEO Matthew White, after acquiring its first business Electro-Comm Digital Services, in February 2017. The Company is targeting the highly fragmented IT market aimed at servicing SMEs. This funding round will provide capital for acquisitions, driving the Company from £250k to £3.6m EBITDA.
This is a clear example of finnCap's ability to match an ambitious Company with the right investor. The round was financed in the form of £6m debt and £400k equity.
Remarking on this successful fund raise Matthew White, CEO of Flywheel, said: “finnCap took time to understand our business and growth plans, as well as the details that separated us from the average soulless Buy-and-Build acquirers. They introduced us to a range of traditional and non-traditional funding sources that were outside our contact circle.”
Grant Bergman, finnCap Corporate Finance Director, said: “We are delighted to have been able to assist Matthew and the rest of the impressive FlyWheel management team in raising the capital required to execute on their vision. We look forward to seeing the business go from strength to strength.”