UK-based Tactus Group, a consumer technology business has pocketed a £40 million investment to support its ambitious plans. The investment round was led by Chrysalis Investments that has backed global tech giants including THG, Wise, Klarna, Graphcore, wefox, and Starling Bank.
Growth plans ahead
Tactus Group intends to become a globally recognised gaming and consumer computing group. It will use the investment to accelerate its international buy-and-build strategy with several global acquisitions and partnerships already in the pipeline.
This round follows a £12.5 million funding round led by Liverpool-based multi-family investment office Arete Capital Partners in April this year. The previous funding round enabled the firm to acquire Bradford-based e-commerce PC gaming specialist CCL Computers.
Scott Brenchley, CEO of Tactus Group, said: “Our aim is to become the go-to e-commerce group for gaming and computing globally and this strategic backing from Chrysalis, coupled with our existing relationship with Arete, will be crucial in accelerating that plan. We have an exciting M&A journey ahead of us, so we look forward to working with the Chrysalis team as we continue on our international growth journey.”
Richard Watts and Nick Williamson, co-portfolio managers at Chrysalis Investments, added: “Our investment in Tactus builds on our portfolio of rapidly growing companies that are benefitting from structural tailwinds and establishing clear market leadership. Tactus operates in a hugely fragmented market that is ripe for consolidation and we look forward to supporting Scott and the team as they execute their ambitious growth strategy and build a market-leading position across key verticals globally.”
Mike Fletcher, the joint managing partner at Arete, said: “We are absolutely delighted for Scott and the whole team at Tactus. Management has shown tremendous determination to emerge as a global leader in the computing and gaming category and the support of such a high-quality co-investor as Chrysalis is a testament to the talent, ambition, and drive of the team. We look forward to working together to deliver the next exciting phase of growth.”
Consumer technology expert
Founded in 2014 by Scott Brenchley, Tactus is a consumer technology expert, specialising in the high-growth gaming, education, and entry-level computing sectors. Following a period of significant organic and acquisitive growth including the acquisitions of CCL and investment in US-based coding and robotics specialist pi-top, the company is focusing on delivering strong growth this year.
The firm has increased headcount significantly in the last 12 months and plans to continue expanding its team at all levels in the coming months. Also, it holds strong relationships with leading global corporate technology businesses such as Microsoft, Amazon, Intel, and Best Buy.
The post UK-based consumer tech specialist Tactus Group secures £40M funding to fuel growth plans appeared first on UKTN (UK Tech News).
