Nostra makes fourth acquisition of the year with Compunet purchase
Nostra has acquired Cork-based managed service provider for an undisclosed sum. This deal is the company’s fourth acquisition of the year, fuelling its growth strategy to increase annual revenue growth from €50 million to €250 million within five years.
Nostra recently secured valuable investment from Phoenix Equity Partners and opened a centre of excellence in Galway, creating 100 jobs. The company also completed three acquisitions this year alone in Passax Business Systems, Definitive Solutions, and Voice & Data Solutions.
Tony Healy and Jason Burns, who have worked with Compunet for over 20 years and completed a management buy-out in 2010, will remain in the combined business.
Compunet is a trusted IT partner to a large customer base across SME Multinational and Education customers and has also expanded through the acquisition of TSGs MSP division in 2017, and KD Systems in 2021.
Kevin O’Loughlin, Nostra co-founder & CEO, said: “”Nostra’s year has been marked by exceptional growth, featuring substantial investment, the launch of our cutting-edge Galway office, and now completing our fourth acquisition of 2023 with the purchase of Compunet. With Cork’s rapid development as a key European hub, we are excited to invest in and foster the region’s innovative capacity and economic dynamism. Tony and Jason have done a fantastic job building a highly respected team and reputable IT managed services business. We’re looking forward to working with them to integrate the business into the Nostra group as we continue our growth journey together.”
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