Nostra adds Phoenix Equity Partners as investor to boost acquisition spree
Investment comes just days after the business made its third acquisition of 2023
Nostra has secured investment from London-headquartered private equity firm Phoenix Equity Partners as the IT services business seeks to boost its war-chest for acquisitions.
The move comes just days after Nostra made its third acquisition of 2023 with the purchase of Dublin-based telecoms business Voice & Data Solutions. Nostra had previously purchased Definitive Solutions and Passax earlier this year.
The Business Post reported earlier this year that Nostra is seeking to build a cash reserve of up to €50 million to aid its plans to make up to five acquisitions in 2023. The company provides a range of managed IT services to over 700 SMEs. Following its three acquisitions this year, the business has over 300 staff.
