IT support specialist Systemagic, which has bases in Monkton Combe and Trowbridge, is looking to double in size over the next two years after receiving new investment.
Experienced financier Martin Spiller, who works with London-based financial consultancy Jenson Solutions, has pumped an undisclosed sum into Systemagic in a personal capacity to take the business to another level. He has also become its chairman.
Martin, whose focuses on high-growth companies in the tech sector, met Systemagic managing director James Eades two years ago.
The pair collaborated on a number of projects before recognising there was an opportunity to work more closely to continue to grow Systemagic.
Martin said: “When I met James I recognised he was a very ambitious and talented young entrepreneur who was going places. Supported by his fantastic team this is the kind of project I want to be involved in.”
Systemagic was established 16 years ago in Bath and James joined in 2002 as a junior IT technician, rising through the company to become MD in 2010.
In James’s first year at the helm the company achieved a significant improvement in profits and has since achieved year-on-year average growth of 30%.
Today it has a strong customer base supporting ambitious businesses which recognise the importance of making technology work for their business.
Following Martin’s investment, Systemagic will invest further in growing its 10-strong team. There will also be new developments over the coming months.
James said: “We’ve enjoyed steady growth at Systemagic, and the team and I are proud to have come this far particularly during the challenging economic period over the last few years. With Martin’s experience and support we believe we’re well positioned to take the business to the next level.”
A chartered accountant, Martin Spiller was head of former global accountancy firm Arthur Andersen’s food and beverage sector team and was involved in disposals, buy-outs and strategic advisory for clients ranging from SMEs to global multinationals.
In 2003, he co-founded Only 4 U, a successful, sector-leading consumer goods business in which he had a wide-ranging role as finance director. He successfully exited the business in 2009 and joined Jenson Solutions as a partner in 2011.
Pictured, from left: James Eades and Martin Spiller
