FPE portfolio company Codestone Group (‘Codestone’) today announced it has acquired Cloud Business, an award-winning business consulting, digital transformation, and IT managed services leader.
Cloud Business builds upon Codestone’s Security, Azure, Modern Workplace and M365 offerings, whilst complementing the Group’s recognized capabilities as #1 mid-market ERP solution partner, and leader in both the Enterprise Performance Management (EPM) and Data & Insights field.
Codestone was FPE’s eighth investment from FPE Fund II in 2021, the firm’s second specialist software and services fund. This third bolt-on further develops Codestone’s accelerated growth and rapid customer base expansion following the acquisitions of Clarivos in May 2022 and DSCallards in November 2022. The Group has trebled its turnover since the FPE investment and now stands at 340 people.
Chris Kay, Investment Director at FPEWe are delighted to welcome Cloud Business to the Codestone Group, and combining the two companies’ leading Microsoft practices across Security, Azure and Modern Workplace within Codestone’s broader Digital Transformation, Data, and Business Application practices. It is a pleasure to work with both the respective management teams, and we are confident that together the two businesses can continue to drive innovation and transformation for their customers
Darryl Sackett, CEO at CodestoneThe addition of Cloud Business’s expertise and wonderful people talent enhances Codestone’s consistently high-quality customer engagement model. We are focused on end-to-end value creation for all customers in all sectors and geographies who are trying to answer the question of how to do more with technology while staying secure. From the Digital Strategy, Edge computing, mission critical infrastructure and all processes that run any modern business, we guide organisations through this increasingly complex landscape. We unlock innovation and free up budget for our customers to reinvest. Cloud Business enables us to do this for more customers in a broader way with a strong cultural fit aligned to our core values.
James Palmer, Chair of Cloud BusinessWith a worldwide footprint, a dedicated team comprising hundreds of skilled experts, and a remarkable three-decade legacy in business technology consulting, Codestone provides Cloud Business a larger platform from which we can leverage our deep proficiency in IT consultancy and transformational services. The new organisation also significantly broadens the core capabilities we will be able to offer both new and existing clients. We are excited by the vision that Darryl and the Codestone leadership team have for the company and are thrilled to be part of the journey.
