Phoenix Equity Partners announced it has invested in Nostra Technologies, a leading managed IT services provider in Ireland. Phoenix is investing alongside Nostra’s founders Kevin O’Loughlin and Barry O’Loughlin to support the company in its rapid organic and inorganic growth journey. This marks Phoenix’s third investment of 2023.
Nostra was founded in Dublin by Kevin and Barry O’Loughlin. The company provides a comprehensive range of managed IT services including cybersecurity and cloud infrastructure to over 700 small and medium-sized companies across both the private and public sectors in Ireland.
Nostra’s customer-centric proposition and broad technical expertise, combined with growing demand from SMEs for integrated technology solutions, has seen the company achieve more than 20% organic growth per annum over the past three years. This growth has been enhanced by a complementary acquisition strategy, with three acquisitions recently completed and a strong near-term pipeline. As a testament to its standout success, Nostra was named Management Technology Company of the Year at the Tech Excellence Awards in 2022.
Phoenix’s investment will support further acquisitions as well as the development of Nostra’s operating platform and service offering, with the aim of consolidating the company’s position as one of Ireland’s leading Microsoft partners.
Kevin O’Loughlin, CEO of Nostra, said, “we were looking for a partner who would back Nostra’s ambitious plans to grow organically and via acquisition. We want to build on our offering to be a true ‘end to end’ provider for aspirational companies who need world-class support. Phoenix have been a pleasure to work with and we spoke to many other teams they had partnered with who confirmed our view. We put a long-term plan in place for Nostra back in 2015. We are still in the early stages of that plan but are delighted to have found a partner in Phoenix who will help us achieve our ambition to become a global leader in IT.”
Will Skinner, Partner at Phoenix, said, “we are excited to be partnering with Kevin, Barry and the Nostra team for the next phase of their growth journey. They have built a brilliant business around a super customer proposition, and we look forward to working with them to broaden and scale Nostra’s offering during our partnership while nurturing its terrific culture.”
Source: Phoenix Equity Partners