LDC-backed CTI Group launches into mobile space with the acquisition of app development agency Silverchip
This is the first acquisition the CTI Group has made since securing a £25m investment from leading mid-market private equity firm LDC earlier this year.
The winners of Tech Company of the Year, App of the Year and Best Use of Technology in 2022, Silverchip’s team of mobile experts will further enhance CTI’s “full service offering” in providing leading edge mobile app competency to our current and future clients.
Led by Nick Rhind, CTI Group is a fast-growing, acquisitive, digital transformation group headquartered in the heart of Manchester with a global footprint and international office expansion on the horizon.
Co-founded in 2010 by Liam Bateman and Jamie McMullan, Silverchip builds award-winning mobile apps and bespoke software solutions, counting England Squash, Nifty, Boundary Outlet, 87% and Suits Me amongst their client base.
Nick Rhind, CEO and Founder of CTI, said: “This deal was all about acquiring great talent from the get-go and enabling CTI to become a significant player in the mobile space. We’re excited to bring a first-class mobile offering to both our existing and new customers and to continue to invest and develop the Group’s mobile capabilities.
Our leadership teams share a passion for our customers and embracing future technologies. With the addition of Silverchip, we are on an accelerated path to achieve our goals for the Group within the next 3 to 5 years.”
Silverchip’s Liam Bateman (CTO) and Jamie McMullan (Managing Director) said:“For us, Silverchip is more than just a business; It has been and remains a mission to create the best working environment for our people while delivering exceptional products for our clients. Upon meeting Nick and CTI’s senior team, we instantly recognised a joint vision for the growth and future of our teams along with an aligned company culture that puts people first.
We are incredibly excited for the opportunities that joining the CTI Group will bring, not only for our employees but also for our clients, who will be able to access the full range of Group services whilst continuing to receive the technological excellence Silverchip are known for.
Richard Ibbett, Investment Director at LDC in Manchester, added: “Since we backed Nick and the management team in March, we have been working together closely to make their acquisitive growth strategy a reality. It is brilliant to see them hit this important milestone so quickly with Silverchip – a business that will continue to really enhance the group’s market-leading offering.”