Pros
Reasonable work-life balance and flexible working hours No death marches / unrealistic deadlines Good local team atmosphere Some interesting mission critical technology - likely you have used their services without realizing it Business has healthy cashflow
Cons
Minimal or zero pay rises Current owners (2014) treat employees as a cost rather than an asset; headcount cuts and outsourcing reviews every 6 months will stress you out if you are not good at coping with change Strategic plan appears to be minimize recurring costs rather than to develop business Frustration working with outsourced resources who are not up to the job If service levels and innovation continue to suffer due to outsourcing, cashflow may dry up leading to further cuts