Nostra completes first acquisition since Phoenix investment

Nostra has acquired Cork-based IT managed service provider Compunet, the fourth acquisition in 2023 and first since Phoenix’s investment in August.

Operating in Cork for 30 years, Compunet brings with it a loyal customer base of small and medium-sized enterprises (SMEs) and notable strengths serving the needs of multinationals and the education vertical. Following a management buy-out in 2010, Compunet expanded through acquisitions as well as organically, buying TSG’s MSP division in 2017 and KD Systems in 2021. The business is led by Tony Healy and Jason Burns, who are excited to be joining Nostra on its journey and will play key roles in the combined business moving forward.

Kevin O’Loughlin, Co-founder and CEO of Nostra said: “Nostra’s year has been marked by exceptional growth, featuring substantial investment, the launch of our Galway office, and now the completion of our fourth acquisition of 2023 with the purchase of Compunet. With Cork’s development as a key European hub, we are excited to invest in and foster the region’s innovative capacity and economic dynamism. Tony and Jason have done a fantastic job building a highly respected team and reputable IT managed services business.”

Tony Healy and Jason Burns, Directors at Compunet added: “We are looking forward to a strong partnership with the team at Nostra who have a very clear vision and ambition that we are aligned with. This will ensure we expand our service offerings, capabilities, and geographic reach to deliver an even stronger service to our customers.”