Full steam ahead for Calyx MBO

Chief executive gets shareholder thumbs-up for MBO plans at EGM

Calyx chief executive Maurice Healy has been given the green light by shareholders to pursue his management buy out (MBO) plans.

As revealed by CRN, Calyx management secured backing from private equity house Alchemy Partners to grab the London and Dublin-listed firm in a deal worth an estimated £70.2m (CRN, 4 June).

Healy formed Calyx in 2002 through an MBO from parent company Alphyra. The Irish-based firm only entered the UK in 2005 by acquiring ITS Technology Services before buying integrator Matrix for £40.5m last year (CRN, 17 May 2006).

The latest MBO deal received strong backing from shareholders at an EGM on Monday.

As a result existing Calyx shares will cease trading on the Alternative Investment Market and the Irish Stock Exchange on 20 July.