A management buy-out has completed at an award-winning Hull technology company, with the deal seen as a springboard for further growth.
The One Point provides managed IT and telecoms services from a prominent headquarters on Bridgehead Business Park, Hessle. Employing 40 people, it is targeting 50 per cent growth by the end of 2025, taking headcount to 60.
Founder Martin Lauer has taken a majority shareholding, allowing Spectrum - a sister company specialising in managed print and digital services - to exit after a nine year partnership. It will now focus on its own digital growth strategy. A £1.4 million debt funding package was secured by The One Point, enabling it to close the deal while laying the groundwork for expansion. It tapped into Mercia’s SME Loans fund and the Northern Powerhouse Investment Fund the organisation manages.
