We are pleased to announce that we have completed the sale of Distology, a specialist cybersecurity value-added distributor, to Foresight Group (Foresight).
The transaction is our ninth technology exit and the third realisation from NorthEdge SME Fund I, with the SME Fund’s three exits to date delivering a blended 4.3x gross MOIC.
Distology is the go-to distributor for disruptive cybersecurity vendors seeking to scale across Northern Europe through the IT channel. It is a strong example of a regional business with genuine international reach – headquartered in Stockport in the North West, it serves customers across the UK and Northern Europe, supported by operations in the Netherlands and Germany.
We invested in Distology in February 2021, backing Founder and CEO Hayley Roberts and her management team in their first institutional investment to broaden the vendor portfolio, deepen technical capability and scale the business internationally. Over the two years to FY26 it delivered a 48% EBITDA CAGR; expanded and diversified its vendor portfolio; increased its services capability following the acquisition of Squareball in 2022; and strengthened its leadership team with the appointment of a Chief Technical Officer and a Chief Commercial Officer.
Distology has also established itself as a recognised leader within the IT channel – with Hayley named among the Top 20 EMEA Channel Leaders and the business being a prolific winner of Channel and Partner Awards throughout the investment period. The business has been recognised among the Top 200 Women-Powered Businesses and at the Northern Power Women Awards.
Liam May, Partner at NorthEdge, said: “Distology is exactly the kind of business we set out to back – a founder-led regional business, operating in a strategically important sector with genuine national and international reach. Throughout our investment, Hayley and the team have delivered strong growth – diversifying the vendor portfolio, deepening technical capability and extending Distology’s reach across Northern Europe, all while building a culture that attracts and retains the best talent.
“As NorthEdge’s ninth technology realisation, Distology reflects our strong track record in the sector; and we wish Hayley and the team every success in their next chapter.”
Hayley Roberts, Founder and CEO of Distology, added: “The last five years with NorthEdge have been brilliant. They believed in us at a pivotal moment, backed our vision and helped us grow across the UK and Europe – all while championing the culture and people that make Distology what it is. I’m so proud of what this team has achieved, and hugely grateful to NorthEdge for their support along the way. As we look forward, we’re excited for our next chapter of growth alongside Foresight.”
NorthEdge and Distology were advised by Clearwater (Corporate Finance), DWF (Legal), Cortus (FDD) and GCS (CDD). ThinCats continues to provide debt financing for the business.