Key Takeaways
- • Apple reseller Jigsaw24 has been sold to private equity firm Alcuin Capital Partners in a deal reported at £95m, roughly six months after a potential sale was first rumoured.
- • The transaction is a secondary buyout: Alcuin acquires the business from NorthEdge Capital, which had invested in Jigsaw24 about a year earlier.
- • NorthEdge's prior stake reportedly returned 3.1x on the sale, according to the firm's own announcement.
- • Under Alcuin's 2018 ownership, Jigsaw24 expanded across the UK, divested a non-core software division and acquired another Apple-focused services provider.
- • Jigsaw24 describes itself as the UK's largest enterprise solutions provider of Apple products and services, serving corporate, creative and education clients.
Summary
Apple reseller Jigsaw24 has been sold to private equity firm Alcuin Capital Partners, according to publisher reporting, in a transaction valued at £95m. The sale came about six months after a potential sale was first rumoured in the market.
The deal is a secondary management buyout. NorthEdge Capital, which had provided growth capital to Jigsaw24 roughly a year earlier, has completed the sale. NorthEdge stated that the exit delivered a 3.1x return. Jigsaw24 is a leading provider of IT solutions to the corporate, creative and education sectors, operating through its wholly owned subsidiary Jigsaw Systems Ltd, and it has particular expertise in Apple products.
Alcuin first invested in Jigsaw24 in 2018, and according to Alcuin, it helped the business grow significantly across the UK and strengthen its enterprise sales and service operations. During that period Jigsaw divested a non-core software division and acquired another Apple-focused services provider. The company also acquired Amsys, described as the UK's largest Apple repair provider, and has pursued further acquisitions including Apple reseller Square Group, with management targeting revenues above £80m.
Jigsaw24 is one of a small number of enterprise-level Apple resellers globally holding an AAER licence, according to Alcuin. The company also supplied technology solutions to the NHS during the Covid-19 pandemic. Roger Whittle is listed as founder and director, and Martin Balaam is CEO. Full terms of the Alcuin transaction were not available in the sources reviewed.
The deal is a secondary management buyout. NorthEdge Capital, which had provided growth capital to Jigsaw24 roughly a year earlier, has completed the sale. NorthEdge stated that the exit delivered a 3.1x return. Jigsaw24 is a leading provider of IT solutions to the corporate, creative and education sectors, operating through its wholly owned subsidiary Jigsaw Systems Ltd, and it has particular expertise in Apple products.
Alcuin first invested in Jigsaw24 in 2018, and according to Alcuin, it helped the business grow significantly across the UK and strengthen its enterprise sales and service operations. During that period Jigsaw divested a non-core software division and acquired another Apple-focused services provider. The company also acquired Amsys, described as the UK's largest Apple repair provider, and has pursued further acquisitions including Apple reseller Square Group, with management targeting revenues above £80m.
Jigsaw24 is one of a small number of enterprise-level Apple resellers globally holding an AAER licence, according to Alcuin. The company also supplied technology solutions to the NHS during the Covid-19 pandemic. Roger Whittle is listed as founder and director, and Martin Balaam is CEO. Full terms of the Alcuin transaction were not available in the sources reviewed.
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