Turrito and Dial a Nerd announce management buyoutJun 11th, 2020
Turrito Networks and Dial a Nerd are excited to announce a management buyout by the founders of both companies.
Turrito Networks is a Telecoms and Managed Solution Provider for larger SME’s and the mid-market started in 2010 by Brian Timperley and Louis Jardim. Dial a Nerd is a Managed Solution Provider for smaller SME’s and home users started by Colin and Aaron Thornton in 1998.
These businesses joined forces in 2015 thanks to the support of Turrito’s original funders Sebata Holdings. The partnership allowed both businesses to exchange skills and knowledge and aggressively grow into new markets with new products and services. Each company now provides turnkey IT solutions for their respective customers, from desktop support right through to zero-touch Software-Defined WAN’s.
Earlier this year the founders Brian, Louis, Aaron and Colin approached Sebata Holdings to buy back the business with the help of a boutique private equity business called Growth Capital Partners (GCP) and were successful. GCP saw potential in each businesses ability to digitally transform their customers in a time when it’s increasingly critical. Aaron Thornton, CEO of Dial a Nerd noted “importantly we also believed that the GCP ethos was aligned to ours, and knew we’d found the right partner. ”
The transaction allows the founders to increase their shareholding in the businesses and assisted Sebata in exiting its non-core investment. It also allows the businesses to maintain their strong B-BBEE rating, make new investments, and enter new markets.
Tim Page, a director at GCP, comments “we are really pleased with the investment in Turrito and Dial a Nerd as we believe that the GCP network will unlock significant value for them. In these uncertain times, we also think they are well placed to weather the storm and to potentially even benefit from it. The management team are vastly experienced and highly motivated to take the business to the next level. We look forward to developing a strong partnership with the management team and growing the business together.”
Brian, CEO of Turrito, notes “we’re delighted to embark on this journey with Growth Capital Partners as we believe that together we have the makings of a formidable partnership; one that will result in the exponential growth of these businesses.”
Colin, Chief Financial Officer, had the following to add “The speed and efficiency with which GCP was able to conclude the transaction is a good example of their agility and ability to make quick decisions. This is important in today’s changing world and almost critical in our type of business. Our customers (rightly) demand that we stay at the cutting edge and agility is crucial.”