Cooper Parry IT has been acquired by its former Directors and husband and wife team, Vicky and Brett Critchley, under the new name Bam Boom Cloud, with the support of a seven-figure management buy-out (MBO) facility from HSBC UK.
Vicky will become CEO of Bam Boom Cloud and Brett will take the position of Executive Chairman, with the company’s former 90-strong workforce all now becoming part of the new venture.
Vicky’s and Brett’s future growth strategy and vision for the business includes the acquisition of businesses to help broaden the company’s product offering, including CRM and Data Analytics, as well as to facilitate their expansion plans into North America. The husband and wife team hope to create 60 new local jobs over the next two years.
Vicky Critchley, CEO at Bam Boom Cloud, says: “It’s such an exciting time for our business as we look to accelerate our growth potential as a global Microsoft partner by making Microsoft Cloud technology simple to implement, effective and accessible to small and medium-sized businesses. We support a lot of small businesses and even start-ups to acquire technology in a totally different way, enabling them to grow at a faster rate.
“The facility from HSBC UK not only supported the acquisition of Cooper Parry IT, but will support our future growth strategy, as we look to bring on board additional products in both the UK and US in the coming year.”
Simon Woods, HSBC UK Relationship Director East Midlands Corporate Banking, adds: “We were delighted to support Bam Boom Cloud with the acquisition and to facilitate and accelerate their future expansion plans. At such a critical time for small and medium-sized businesses requiring additional IT support to meet customer demands during the pandemic, it’s great to see Bam Boom Cloud’s ambition to not only strengthen its product offering but also develop its future market plans.”