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PARC Capital Fund Services Pty Ltd (PARC) has announced a $21 million investment in NEXION Group (NEXION ASX:NNG), a fast-growing hybrid cloud service provider based in Australia.

PARC is an experienced funder in the technology industry, with multiple acquisitions already funded in the IT sector. The firm’s recent $150 million deal with Macquarie Capital to help fund cyber security provider Orro Group is evidence of its expertise in the field.

NEXION offers network, compute, security, and data storage solutions and has been recognised as a serious player in the competitive whole-of-enterprise IT sector since its public listing in 2021. The company’s strategy since listing has been to aggressively grow through innovation, organic growth, and acquisitions. After extensive due diligence, PARC has executed a term loan agreement of $21 million to support NEXION’s growth plans.

The support of PARC signifies NEXION’s value as a business and allows the company to strengthen existing capabilities while continuing its strategic path. The initial drawdown from PARC will assist with planned acquisitions in New Zealand while providing ongoing support for NEXION’s future M&A activity.

The partnership between PARC and NEXION is expected to add discipline to decision making and reporting as well as assisting on deals being completed faster, ultimately resulting in business and shareholder value. The Executive Chairman and Interim Group CEO of NEXION, Peter Christie, expressed his excitement about working with PARC, noting that their deep understanding of the technology industry and M&A expertise makes them the perfect partner for NEXION’s M&A program.