NashTech acquired by investment firm PAG

LONDON, UNITED KINGDOM — IT services outsourcing company NashTech has been acquired by the Asia Pacific-focused investment firm PAG.

This acquisition, announced on December 23, 2024, marks a shift for NashTech, formerly a subsidiary of Nash Squared. This move aligns with Nash Squared’s strategy to concentrate on its core talent solutions and innovation.

Strategic growth plans

NashTech, established in 2000 and headquartered in London, has built a robust presence in the global IT services sector with over 2,000 engineers and technologists operating across five delivery centers. The company specializes in custom software development, managed services, and digital business process solutions, serving enterprise customers and independent software vendors across insurance, higher education, retail, and logistics industries.

PAG, which manages over $55 billion in capital and operates across 15 global offices, sees this acquisition as a strategic move to expand its technology portfolio. The investment firm plans to leverage NashTech’s established presence in Vietnam, India, and Central America to further strengthen its market position.

Leadership perspectives and future direction

John O’Brien, NashTech’s CEO, expressed enthusiasm about the partnership, emphasizing their shared mission to create superior technology solutions. The acquisition marks PAG’s fourth major transaction in 2024, demonstrating the firm’s aggressive growth strategy.

“We believe NashTech’s deep and qualified talent pool, its focus on delivery quality, and its strong culture of employee engagement positions it well to capitalize on the global growth of IT services solutions,” stated Lincoln Pan, PAG’s Partner and Co-head of Private Equity.

For Nash Squared, this divestment allows them to focus on their core talent solutions business, including their prominent brands Harvey Nash, Flexhuis, Crimson, Spinks, and Talent-IT. Bev White, CEO of Nash Squared, noted that this separation represents a natural evolution for both companies, enabling each to pursue focused growth strategies in their respective domains.

While financial terms remain undisclosed, this acquisition positions NashTech for expanded growth in its core United Kingdom and United States markets, with plans to extend its reach into the Asia Pacific region.