Tuesday, August 4, 2020

East Midlands IT company secures seven-figure funding package

An innovative East Midlands IT business has secured a seven-figure funding package from Allied Irish Bank (GB) to support future growth.

Xuper is an international managed IT services provider which has developed its own unified communications and collaborations platform for a wide range of business applications, including a secure digital consultations platform for the healthcare market.

Formed in 1983, Xuper was bought outright by Peter Grogan in 2014 and its annual turnover has increased nearly four-fold since then. Headquartered at Wyvern Business Park, Derby, Xuper currently employs around 80 people. Customers include the Met Office, Police Scotland, UK health and social care trusts and several multinational businesses including a leading telecommunications provider responsible for 36% of all UK mobile data traffic.

Following its merger with Questmark last year Xuper will use the new funding from Allied Irish Bank (GB) to continue its development of Visconn and Visconn Clinics, which combine cost-effective video conferencing, telephony, instant messaging and file sharing to improve productivity. Sales are projected to continue to grow substantially, with plans to seek further complementary acquisitions, job creation and product launches, including a new solution, which enables patients to see and be seen by a medical professional in their own homes.

Peter Grogan, Managing Director, said: “I am proud to lead a great team. We are taking on the blue-chip organisations with local talent, local grit and enterprise. Allied Irish Bank (GB) is a great partner to help develop our current business and fund further suitable acquisitions.”

Dale Cowdell, relationship manager at Allied Irish Bank (GB)’s Nottingham Business Centre, said: “Xuper is an exciting and growing business in the IT and communications sector and a great example of the businesses we seek to back. From our first meeting with Peter and the team we could clearly understand their strategic aims and our funding package will assist Xuper to achieve further sales growth and improve its market share.

“We’re looking forward to building on our relationship with Peter and the team and backing them to achieve their dreams and ambitions.”

Allied Irish Bank (GB) was introduced to Xuper by John Sykes of Skye Corporate Finance.

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