Timico is a UK-wide Managed Cloud Service Provider (MCSP) with operations in Newark, Reading and London.
It delivers a comprehensive range of managed services including IT, hosting, network connectivity, mobile solutions and Unified Communications with full consultancy and professional services support.
Timico has annual revenues in excess of £50m pa with a core mid-market and enterprise base of 500 customers. Over 85% of its revenues are recurring, based on 3-5 year contract terms. It has grown substantially over the last 12 years and now employs over 300 people. It has regularly featured as a Sunday Times Tech Track Fastest Growing Company.
Timico has a large addressable market in the UK, estimated to be c.£19bn. Its growth is driven by the move from in-house and on premise provision to outsourced bundled solutions. Customer spend in Timico’s core market is forecast to grow by 7-9% per annum, with high growth in cloud hosting, fully managed services and internet telephony.
Through Lyceum’s investment, Timico will:
- Complete its transformation to become a consumption based provider of managed cloud services with strong organic growth and 20% EBITDA margins
- Develop a fully integrated solution-led end to end service comprising of: Managed IT, Hosting and Connectivity
- Develop its go-to-market strategy and sales capability to drive organic growth in fully bundled services in targeted vertical markets
- Execute a targeted acquisition strategy to build and integrate deeper capabilities in security and data management
“Timico has scale, great technical capabilities and a strong customer base. It has invested in an outstanding leadership team which has a clear and coherent strategic plan. It is now very well placed to become the leading provider of managed cloud services to fast growing and enterprise businesses in the UK.” Simon Hitchcock, Partner, Lyceum Capital