
DSP Completes the Acquisition of Leeds-Based Explorer UK
DSP is supported by Leeds headquartered YFM Equity Partners (YFM), which invested £5.3m ($6.92m) in the business in 2018 to finance its £10m ($1.3m) MBO led by Simon Goodenough, marking it the sixth investment from YFM's Buyout Fund I.
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CIO Applications Europe | Friday, August 07, 2020

DSP is supported by Leeds headquartered YFM Equity Partners (YFM), which invested £5.3m ($6.92m) in the business in 2018 to finance its £10m ($1.3m) MBO led by Simon Goodenough, marking it the sixth investment from YFM's Buyout Fund I.
FREMONT, CA: Enterprise IT managed services organization DSP and Leeds-based Explorer UK, an Oracle consultancy, development, and support provider, have been grouped together to form one of the largest independent Oracle partners in the UK.
DSP is supported by Leeds headquartered YFM Equity Partners (YFM) which invested £5.3m ($6.92m) in the business in 2018 to finance its £10m ($1.3m) MBO led by Simon Goodenough, marking it the sixth investment from YFM's Buyout Fund I. Since the 2018 management buyout, DSP has doubled profitability and turnover as well as grown its contract base by 300 percent. The deal, which included working capital provided by Santander Growth Finance, would witness the combined group dominate the upper echelon of independent Oracle partners in the UK.
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With offices in London, Nottingham and Basingstoke, DSP was established in 1999 and has grown to a turnover of almost £10m with circa 40 staff. It is an enterprise data and managed services specialist that has been regarded as a trusted technology partner for companies that want to invest in Microsoft, Oracle, and Cloud technologies.
The Explorer founder, Ian Thomason, joined the DSP Group's board, with Simon Goodenough becoming Group CEO. The newly formed group would continue to operate from DSP's three offices and Explorer's Leeds head office. The deal would witness DSP boost group revenues to over £20m, increase profits substantively, and deliver a further platform for both organic and acquisitive growth.
Eamon Nolan, partner at YFM, commented, "The acquisition gives the new group greater scale, more capacity for growth, the ability to compete for larger contracts and puts it in a strong position to take advantage of the huge opportunities available in the UK and globally. Since our investment two years ago, we have already seen impressive growth with profits doubling and its contract base trebling, and we expect to see further expansion, both through organic growth and acquisition."
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