Business
2e2 rated in top five of South East Deloitte Buyout Track 100
Newbury-based IT services and solutions provider, 2e2, has won its 48th award in five years, coming fifth in a list of South East businesses appearing in the latest The Sunday Times Deloitte Buyout Track 100 league table and is now positioned at No 24 nationally. The league table ranks Britain’s 100 private-equity backed companies with the fastest-growing profits over the last two years.
2e2s listing is a result of its 62 per cent year-on-year growth in profit, which has increased from £5.6m in 2004 to £14.8m in 2006.
A fifth of the companies on the league table are headquartered in the South East, with 2e2 being one of three from the Berkshire area. 2e2 provides consultancy, integration and support services to organisations, and as such is the only IT services provider in the league table. It employs more than 2,000 people.
Co-founders Terry Burt and Mark McVeigh have pursued an aggressive acquisition strategy, with 11 IT firms brought onboard to date. As a result, and in addition to its headquarters at Benham Valence, Newbury, 2e2 operates from locations across the UK, the Channel Islands and the Netherlands. In 2006, Duke Street Capital bought out original investor Gresham in a deal valuing the business at £130million. Data was compiled by the Oxford-based independent research and networking events company “Fast Track”, who track Britain’s top-performing private companies, ranging from the fastest-growing to the biggest.
Terry Burt, chief executive officer of 2e2, said : “We are delighted that 2e2 has been recognised in The Sunday Times Deloitte Buyout Track 100. We believe that achieving a place in the top 25 companies is testament to the hard work and commitment that has been put in at 2e2, not just during the two years covered by this, but from our inception in 2002. We look are looking forward to moving into the next stage of the company’s development.”
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