Hitchin, 08.06.2023 – Modern Networks Ltd, a leading provider of IT and telecoms to the UK’s commercial property market, has acquired the Bluegrass Group, an Exeter-based IT services provider that caters to small and medium-sized enterprises across the South West. Modern Networks and Bluegrass have shared a long-term relationship with the organisations culminating in this acquisition.
The acquisition boosts the Modern Networks team to more than 165 employees operating from Hitchin, Cambridge, Guildford and Exeter. Modern Networks is backed by leading private equity firm Horizon Capital which acquired a majority stake in April 2021.
Modern Networks founder and CEO, Matt Reeve said, “We are thrilled to announce that we are joining forces with Bluegrass in Exeter. Both organisations align perfectly in terms of core values and customer service philosophy. Our intention is to expand the business in the South West region, and we very much look forward to building relationships with our new colleagues and customers in the South West and beyond.”
The acquisition of Bluegrass has brought Modern Networks one step closer to its long-term goal of becoming the leading provider of consolidated IT and telecommunications services in specific verticals, particularly the commercial property sector. The acquisition will enable Modern Networks to realise operational efficiencies through scale and see the company expand its presence and customer base in the South West. Additionally, the company will be able to provide faster onsite response times to both new and existing customers in the region and improve customer service.
Chris Thomas, Bluegrass Joint Managing Director said, “With David and Hilary wanting to retire we set about looking for a company who could not only maintain the culture and values of the business but also grow Bluegrass so that employees, customers, and potential new customers could gain enhanced benefits. Modern Networks was the perfect fit which makes for an exciting future”.
The close alignment of culture and values between Modern Networks and Bluegrass has already fostered a strong relationship and bond. The dedicated team at Bluegrass is passionate about their work and consistently delivers outstanding service to their customers. The merger of the two businesses will result in a more robust and competitive entity that can provide even better service to its customers.
