July 2022

Chiltern acquires Cyber Security Specialist Cyphra

Chiltern portfolio business, Pixel Holdco Ltd, the parent company of cloud centric IT services and data specialist Perfect Image, has completed the off-market acquisition of Cyphra Ltd, a leading provider of cyber security solutions to large public sector organisations, government agencies and private enterprises.

Founded in 2014, Cyphra supplies, implements and supports specialist technical solutions to help customers mitigate risk and protect themselves against the ever-growing risk of cyber threats. Through its partnerships with market leading global cyber security vendors, Cyphra provides enterprise grade cyber security architecture and solutions, cloud security and managed security services.

Cyphra will sit alongside Perfect Image to create a specialist IT services proposition that combines Cyphra’s complementary cyber security solutions and services with Perfect Image’s portfolio of cloud infrastructure, managed services and data analytics solutions.

Commenting on the acquisition, Chairman Tom Kelly said:

“Cyphra is a strategic acquisition for the Group as we continue to build out a portfolio of market leading IT managed services companies. Cyber security is one of the major challenges for customers and having looked at the market we identified Cyphra as an ideal acquisition. Its strong leadership team, exceptional technical expertise, stellar customer base and world class technology partnerships set them apart.”

Paddy Trainor, Managing Director of Cyphra commented:

“We are delighted to be joining the Group as we look to accelerate our growth across the UK. This will enable us to continue our investment in our people, our partners and our customers and achieve our ambition of becoming the leading ‘pure-play’ cyber security company in the UK. Working alongside the Perfect Image team will give us the scale, resources, and capabilities to achieve this.”

Ben Robinson, Investment Manager at Chiltern said:

“We are delighted to support the Group in the acquisition of Cyphra. When we invested in Perfect Image in 2019, we had a clear strategy to develop a leading provider of IT managed services and data analytics for a mid-market customers base. It’s great to see that vision coming to fruition with the acquisition of Cyphra, adding specialist cyber security skills to the growing portfolio.”