A Motherwell IT services business is embarking on a significant expansion after securing six figure funding from UKSE.
VectorCloud, which specialises in managed IT services, including business continuity, information security, IT disaster recovery and fully responsive cloud systems, used the investment to acquire the IT service division of another local business, substantially boosting its client base.
The businesses that will now be supplied by VectorCloud will also benefit from having a specialist IT provider offering a full suite of products and services.
VectorCloud was established in 1997 and is one of Scotland’s leading IT services organisations, working with SMEs in a range of sectors, including financial services, manufacturing, retail, healthcare and business services. It also has customers in transport, telecommunications and utilities.
The business, which employs nine staff, works in partnership with its clients to design, build and operate systems that deliver resilience and also enable growth.
UKSE has a 10% equity stake in the business and in 2019 supported VectorCloud with funding to undertake a management buyout.
Kevin Mitchell, co-owner at VectorCloud, said: “After 25 years of operations, VectorCloud has a strong track record of innovation and helping clients to use technology to drive business outcomes.”
“More recently, this innovation has been used to build a new strategy of growth following the pandemic, which will see VectorCloud target even more new customers through future acquisitions.”
“With UKSE’s support, we have completed our first acquisition and are the strongest we have ever been. We look forward to engaging with our new clients and providing them with the IT services they all need to thrive.”
Terry Quinn, UKSE regional executive, said: “VectorCloud is an ambitious, well managed business in a key sector for the Scottish economy. We’re proud to help it progress and expand.”