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Volpi Capital partners with Version 1 management in Management Buy-Out

Posted on 3rd April 2017

Volpi Capital today announced that on 31 March it partnered with the management of Ireland’s fastest growing IT Services company, Version 1 in their Management Buy-Out of the business, investing €90m of equity.

Version 1 was founded in 1996 by Justin Keatinge and John Mullen and is today one of the fastest growing IT services companies in Western Europe. The company has grown through planned developmental acquisitions to become a
trusted technology partner to major domestic and international customers across all industry sectors in the UK and Ireland. The company will deliver in excess of €100m revenues this year, while at the same time, delivering outstanding
customer satisfaction and world-class employee engagement.

The company has expanded rapidly through organic and acquisitive growth. It is now embarking on its next phase of growth which will see it target more substantial acquisitions while also looking to the European market. The company
intends to double again in size in the next three years.

Volpi’s investment will enable Version 1’s further internationalisation and the creation of up to 300 additional IT consultancy jobs in the next three years.

Tom O’Connor, Version 1 CEO

“We are delighted to welcome Volpi Capital as an equity investor to Version 1. We found in them a real core values fit to Version 1, with an approach to business and growth focus that matches our own ambitious plans. They are fully aligned to Version 1’s growth plans in the coming years and are the ideal partner to help us achieve our ambitious plans.”

Crevan O'Grady, Volpi Capital Partner

“We are very excited to be partnering with Tom and his management team as we set out to achieve Version 1’s growth plans in the coming years. Version 1’s specialist offering, plans for acquisitive growth and desire to internationalise make it an excellent fit for our investment strategy. We back ambitious management teams and in Version 1, we certainly have found that. Throughout our process, we have been hugely impressed by Version 1’s management team, their track record of achievement and their adherence to their core values. Volpi will work with this team to help them grow internationally and to provide with the level of funding this growth will require. Our values and our approach to business is very similar so it is the ideal base upon which to build a business".
build a partnership.”