SCC is set to launch a £300m technology investment programme to underpin its continued growth, targeting significant purchases in a multi-year strategy aimed at consolidating the company’s position as Europe’s largest private investor in Technology.
Following a highly successful start to the financial year that leaves the company expecting to achieve sales of £2.9bn in 2022/2023, the targeted M&A campaign will see SCC acquire and invest in relevant organisations across its territories in the UK, France and Spain.
With significant recent organic investments in new areas of operation including Data, Cyber and Hyperscale already helping deliver record results in 2021/2022, SCC and Rigby Group will launch a five year acquisition strategy over the coming months to further expand the family-owned company’s position in the technology market.
To fund the investment programme, the Rigby family has committed £200m of equity and £100m of debt to SCC over the next five years to fuel M&A. A further £150m of equity will meanwhile support further technology investments – under the banner of Rigby Technology Investments – over the coming five year period.
A new Head of Corporate Development & Strategy for SCC EMEA will join in January to assist in the planning and delivery of the planned M&A activity, with significant announcements expected throughout 2023.
James Rigby, SCC CEO and Co-CEO of Rigby Group said: “Whilst we are entering more challenging economic times, SCC is committed to a sustained multi-generational vision, and over the coming years we intend to leverage the strength of our long-term private company positioning and decision making to not only strengthen existing operations, but to also broaden our capabilities.
“We are looking to make a series of investments in the UK and Europe that will enhance our client offering with an array of rich new services to further underline SCC’s standing in the sector.”
Rigby Group Co-CEO Steve Rigby commented: “Technology, with SCC at its heart, has always and will always be the core component of Rigby Group’s operations, and the Rigby family’s commitment to SCC as our single most important asset remains as the cornerstone of our strategy. Utilising a combination of significant cash resources and available banking facilities, over the next several years we are committed to investing over £500m to further support Rigby’s development with the very clear intention of cementing our position as the largest private investor in the European Technology space.”