Redsquid goes national and brings B Corp to Scotland

Redsquid, pioneering MSP and B Corporation renowned for its sustainable business practices and IT managed service solutions, is excited to announce its first acquisition in Scotland. The company has acquired MSP (managed IT service provider) IT Hotdesk, an experienced specialist supporting SMEs in Aberdeen and surrounding areas.

A New Era for Redsquid: National Expansion Begins

This acquisition underlines Redsquid’s strategic objective to expand our national footprint and continue to grow our office presence to remain a local MSP. By integrating IT Hotdesk into Redsquids operations, we aim to leverage their expertise in supporting SMEs and enhance our service offerings in the Aberdeen region.

Sohin Raithatha, CEO of Redsquid, shared his excitement: “We are so excited for this next growth journey as we move into Scotland. We have long had a presence in the North and look forward to being closer to our customers so we can continue providing value as their local MSP.”

Gordon Christie, Founder of IT Hotdesk, expressed his enthusiasm: “Over the last 15 years we’ve built something very special at IT Hotdesk, and we are thrilled to join forces with Redsquid. This partnership will allow us to leverage Redsquid’s extensive resources and expertise, enabling us to deliver even greater value to our clients. Our combined strengths will drive innovation and growth, ensuring that we continue to meet the evolving needs of our customers. The acquisition will see IT Hotdesk’s team and operations integrated into Redsquid’s, creating a stronger and more comprehensive service portfolio, where clients can expect a seamless transition and continued excellence in service delivery. “

This strategic acquisition not only allows Redsquid to deliver IT solutions to Scotland but also brings it closer to the customers in the region. By integrating IT Hotdesk into Redsquid, we are expanding our footprint as a local MSP and enhancing our ability to provide personalised, top-tier support to SMEs in Aberdeen and beyond. This proximity ensures that we can better understand and meet the unique needs of our Scottish customers, fostering stronger relationships and driving sustainable growth within the community.

Bringing Sustainable IT Solutions to Aberdeen

This move aligns perfectly with our vision of supporting our customers transition to greener technology, and we look forward to becoming a part of the journey as the region transitions from traditional oil and gas industries to renewable energy sectors. It not only amplifies our ability to deliver sustainable IT solutions but also ensures we continue to provide top-tier support to a broader customer base, driving innovation and sustainable growth across the nation. Our approach ensures that businesses in Aberdeen can thrive sustainably, reducing their environmental impact while enhancing their operational efficiency.

Sohin Raithatha, CEO of Redsquid, shared his excitement: “Bringing sustainable IT solutions to our customers is an integrated part of our mission and commitment to sustainability and community engagement, and we look forward to being able to make a greater impact to businesses in the Scotland region.”

IT Hotdesk will seamlessly integrate into Redsquid’s sustainability initiatives, reflecting the company’s unwavering commitment to sustainable growth. This integration is expected to bring substantial benefits to both customers and team members, reinforcing Redsquid’s position as a leader in sustainable business practices.

Looking Ahead: A Vision for the Future

As a part of the acquisition, Redsquid have been through a refinancing round and partnered with a new lender in London based ThinCats. This have brought a renewed facility which will allow Redsquid to supercharge its acquisition strategy into 2025 and beyond.

Dave Sherrington, MD London and South, of ThinCats said: “We are delighted to have partnered with Redsquid, providing capital to support them through their next phase of growth. They have established a strong reputation in the market and are adding some fantastic businesses to the group, expanding their service proposition, and growing into new geographies. We look forward to seeing them go from strength to strength.”

The acquisition of IT Hotdesk was facilitated with strategic advice from Altenburg Advisory and marks another large acquisition for Redsquid’s which brings on 12 new team members focused on engineering and consultancy personnel to continue Redsquid demand for managed IT and Security services. This is Redsquid 3^rdacquisition this year, and 5^th in the last 14 months.

Founders Sohin Raithatha and Vince Mignacca remain as the only shareholders and will continue to lead the company, having successfully grown it over the last 18 years.

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