A new digital technology services business has launched with the acquisition of a North East-based IT company.
Incremental Group has acquired First eBusiness Solutions with the aim of providing a range of digital services including Microsoft Dynamics ERP, consultancy and analytics to oil and gas, financial services and public sectors in Scotland and across the UK.
Incremental Group is led by former Lockheed Martin BTS CTO and current chairman of The Data Lab, Neil Logan.
Based in inverurie near Aberdeen, First eBusiness Solutions has 34 members of staff and is an award-winning Microsoft Dynamics ERP and infrastructure specialist which has a strong client base in the public and commercial sectors, including oil and gas.
The Incremental team plans to grow the customer base in these sectors, together with Financial Services and the larger corporate market overall. Incremental Group is financially backed by Maven Capital Partners and the Scottish Investment Bank.
The co-founders Neil Logan, Craig Donnelly and Stuart Kerr bring extensive industry experience as part of the senior management team from Amor Group and, subsequently, Lockheed Martin. From its base in the Tontine building, a flagship project of GCC as part of the City Deal, the team has ambitious plans to grow revenues beyond £20m organically and, where opportunities present themselves, by acquisition both in Scotland and across the UK. 140 new jobs are planned to be created in delivering the forecast growth.
Incremental Group CEO and co-founder, Neil Logan, said: “Digital technology continues to evolve at a rapid rate. We created Incremental Group to support organisations by working with them over the long term to deliver digital solutions that enable businesses to do more. We are delighted to complete our first acquisition. First eBusiness has a well-deserved reputation for technical excellence and solid basis for future growth. We welcome Maven and SIB onboard as our new investors. Both have considerable experience and expertise across the tech space with a number of successful investments under their belts and we look forward to their input in helping to grow our business.
Julie Glenny, Investment Director at Maven, added: “We have been very impressed by the incoming Incremental management team, who are extremely well-regarded within the sector and bring a wealth of experience and an excellent track record of success. The business is well placed to expand both organically and through acquisition, and we’re delighted to be backing this team and its growth strategy.”
Kerry Sharp, Head of the Scottish Investment Bank, commented: “Scottish Enterprise has been working with the Incremental management team and supported them from the outset in this exciting new venture. In addition to the investment, Incremental has drawn support from our scaling account management service, financial readiness, and innovation teams. We look forward to continuing to work with the company and our partner Maven as the business develops and expands.”