Cybersecurity firm secures £70m funding for growth
PUBLISHED: 09:24 16 July 2018
A technology services specialist with a cybersecurity base in Bury Saint Edmunds has secured a £70m finance facility to help fund its growth plans.
Chess, which was founded in 1993 by chief executive David Pollock, operates from six locations, including Bury St Edmunds, and provides its 33,000 customers with IT, communication and cyber security systems.
Chess acquired Foursys, based at Great Barton near Bury St Edmunds, in April 2017 and rebranded to Chess CyberSecurity in November. In all, the company has made more than 100 successful acquisitions. The £120m business was named The Sunday Times Best Company to Work For 2018.
The £70m Chess has secured from Barclays and Santander will enable the company to refinance its existing facilities and provide headroom to further grow the business through M&A activity.