Nostra has secured investment from London-headquartered private equity firm Phoenix Equity Partners as the IT services business seeks to boost its war-chest for acquisitions.
The move comes just days after Nostra made its third acquisition of 2023 with the purchase of Dublin-based telecoms business Voice & Data Solutions. Nostra had previously purchased Definitive Solutions and Passax earlier this year. The Business Post reported earlier this year that Nostra is seeking to build a cash reserve of up to €50 million to aid its plans to make up to five acquisitions in 2023. The company provides a range of managed IT services to over 700 SMEs. Following its three acquisitions this year, the business has over 300 staff.
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