HMT LLP advised award-winning Managed IT and Cyber Security Services provider Chorus Global, on their multi-million pound fundraise with growth capital provider Boost&Co. The funding package will enable the business to accelerate their investment plan and scale their differentiated managed security proposition utilising Chorus’ proprietary onshore 24x7x365 Cyber Security Operations Centre.
Established in 1999 by Chief Technology Officer Mark Taylor and Chief Commercial Officer Anthony Sherry, Chorus has grown to become one of the most widely accredited and experienced IT services firms serving the UK SME market across the breadth of Microsoft cloud services. Chorus’s guiding principle of providing enterprise-level IT services with the operational capability expected of large IT service providers but with the personalised service and agility of a closely trusted partner has continued to attract a loyal customer base.
Led by Managing Director Nicola Saner, Chorus has invested in developing advanced cyber security services that help organisations to assess, implement and manage evolving threats. Underpinned by Microsoft technologies, Chorus’ managed threat detection and response service is delivered via their 24x7x365 UK-based CSOC and sold both direct and through strategic partnerships to UK SMEs.
The leadership team, working alongside HMT, sought to raise flexible growth capital to capitalise on the increasing demand for Chorus’ managed cyber security services by accelerating business investment.
HMT completed an end-to-end advisory mandate working with the team to develop and refine the investment case before leading a competitive funding process that delivered a flexible facility in under 12 weeks. Boost’s investment provides true growth capital to support the growth plan without restrictive financial covenants or ownership dilution to the existing shareholders.
Nicola Saner at Chorus commented:
“HMT were mandated with a complex remit to find the right investment partner to support Chorus’ growth plans. Jack and Ricky were trusted partners, taking the time to thoroughly understand the business and our ambitions before using their extensive market experience to identify and negotiate an ideal funding package. Their clear and practical advice throughout led to a seamless transaction process that enabled the management team to stay focussed on the business.”
Jack Longden, Associate Director at HMT commented:
“Chorus’ experience, heritage and loyal customer base provides an exciting platform from which to scale their differentiated cyber security services capability in a market that is experiencing rapid growth. We are delighted to have advised on the funding from Boost, bringing on board a supportive and flexible growth partner for the next stage of Chorus’ development, and look forward to continue working with Nicola and the team in the future.”