Major Power i reseller and managed service provider APSU has secured a £7 million investment from the UK’s Business Growth Fund (BGF).

The Cirencester, Gloucestershire-headquartered firm aims to use the cash to recruit more tech staff to support a growing overseas customer-base. It also plans to expand operations to North America and is considering acquisitions.

While APSU has partnerships with Microsoft, Cisco and HP, it says that it is IBM’s most highly accredited Business Partner in Europe. It is the sole UK member of Big Blue’s Global Business Partner Advisory Council.

Formed in 2011 by CEO Steve Morris from the merger of AssurIT with Apex Computers International, APSU has a particular specialism in the i. In 2013, it was named in the Sunday Times Tech Track 100 as the fastest-growing IT company in the south-west of England (and number 20 in the UK). The company is forecasting a turnover of £25m in 2015.

Steve Morris, APSU CEO, says: “APSU is viewed by IBM as a key strategic partner, with board representation on IBM’s Worldwide Advisory Councils and is the only OEM provider for Power i managed services to IBM worldwide.”

Morris says that APSU has enjoyed significant growth over the last three years because of its midrange expertise and the development of its data centres.

He says: “The investment by BGF will provide the platform to build upon our exceptional growth as APSU develops and expands our unique feature-rich, cloud-based offerings for the UK, Europe and worldwide markets.”

Ex-Unisys man Mike Tait has joined APSU’s board as non-executive chairman and Simon Parkins, who has held directorships at Misys, IBM and Oracle, has joined the company as global sales director.

BGF is a government-led initiative backed by five of the UK’s main banking groups – Barclays, HSBC, Lloyds, RBS and Standard Chartered. As an independent company, it has up to £2.5bn with which to make long-term equity investments.