The management team of £14m-revenue reseller and managed services provider Computerworld has completed a buyout of the Bristol-based outfit.
Dell EMC, VMware and Microsoft partner Computerworld has 42 staff based in Bristol and Cardiff, and claims its revenues hit £14.5m in 2017.
A buyout of the firm, led by managing director John Armstrong has been completed, although the previous owners, including chairman John Hollingdale, will retain an involvement in the business.
Armstrong and his fellow managers, Barry Coombs, David Wynn and Jonathon Pine, have bossed the firm for over 10 years.
Computerworld's last annual accounts filed on Companies House show it posted an operating profit of £188,000 on revenues of £12.4m in its year to 31 December 2016.
The firm claims to specialise in infrastructure modernisation, workspace transformation and security solutions. It recently exited the managed print market, ceasing new business activities in January 2016 before selling its base of machines in the field to a competitor in Q2 of that year.
Tim Brotherton of Gambit Corporate Finance, which acted as lead adviser on the transaction, said the management team had "guided the company through a successful period of growth in recent years".
"The buyout will enable the management team to continue to ensure that the company provides its customers with the level of service and in-depth knowledge that they have experienced to date," he said.
Armstrong added: "The team is very proud and honoured to have successfully completed the MBO. We are delighted to have retained the involvement of all previous stakeholders while giving a new ownership structure that will enable the management team to deliver the strategic plan for the business over the coming years.
"Computerworld is committed to providing a premium service and the MBO will enable this focus to continue and for us to build on our range of services which we see as a real plus for our customers."
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