Jigsaw24 is a leading B2B reseller, integrator and managed service provider of Apple technology, Adobe and Avid software to the corporate, creative and education sectors. The company counts the likes of Barclays, Disney, Channel 4, BBC Sport and News UK amongst its clients.
NorthEdge backed Jigsaw24 in April 2013, supporting the existing management team to further develop the increasing popularity of creative technology in the workplace and demand for video content across multiple business sectors.
The company has since more than doubled its EBITDA to over £4m and successfully completed three bolt-on acquisitions to extend both its product line and geographical portfolio (which now includes London, Manchester, Cardiff and Glasgow).
NorthEdge completed the sale of Jigsaw24 to private equity firm Alcuin Partners in March 2018.
This secondary management buyout was led by Jigsaw24 Managing Director & Founder Roger Whittle and Finance & Operations Director John Hughes, with the support of Alcuin and PNC Financial Services. Jigsaw24’s CEO, Martin Balaam, exited the business with NorthEdge.
The exit represents a 3.1x return on investment for NorthEdge Capital Fund I.
Andrew Skinner, Director and Head of Midlands at NorthEdge, said: “Jigsaw24 has achieved sustained growth since NorthEdge’s investment and has built an impressive client base, including some of the UK’s best known brands. Through organic growth and strategic acquisitions, we have expanded the business’ geographical presence and enhanced its offering for customers. It has been a pleasure working with Chair Iain Ferguson, Roger, Martin, John and the rest of the management team at Jigsaw24 and we are confident that the firm will continue its upward trajectory in its next chapter.”
Martin Balaam, outgoing CEO at Jigsaw24, said: “It’s been an incredible five years. We are only at the start of the adoption of Apple and creative technology, not only within the Creative Industry but also the broader Commercial & Enterprise businesses as “mobile first” is now reality and businesses have digital transformation at the top of their strategies. It’s been a pleasure to work alongside the Jigsaw24 management team and the wider Apple, Adobe and Avid community. I’d like to thank NorthEdge for their continued support and investment over the period and wish Alcuin and Jigsaw24 even greater success in the future.”