Pars buyer plans education spree

NS Optimum claims more acquisitions are on the cards following deal to snap up fallen rival

The new owner of fallen systems builder Pars Tech­nology says the acquisition is the first of many it is plotting in the education sector this year.

Systems builder NS Opti­mum rescued Pars from administration on 1 April by agreeing to purchase its trade assets for an undisclosed sum.

Pars was placed into administration in February, after its finances were crippled by a long-standing tax dispute with HMRC, resulting in its entire workforce being made redundant.

Prior to the Pars deal, NS Optimum underwent a management buyout in January, with two new directors joining the firm.

Andy Rutley, managing director of NS Optimum, said the action was taken so it could hit the acquisition trail and grow its share of the education market.

"It was a management buyout for growth, so we can cement our position in the education market as a total solutions provider," he said. "We are looking to acquire other firms to increase our share and accelerate growth."

In the meantime, the company is in the throes of securing jobs for former Pars employees and contacting the firm's customers about their IT support needs.

"We are contacting as many employees as possible to find out how their employment situation has changed and see if there are any opportunities for them to come on board and work with us," he said.

"A number of customers signed up with Pars in the lead-up to their administration and we are now trying to ascertain the warranty and service provision put in place for them."

Pars administrator Rich­ard Rendle, from insolvency practitioner Rendle & Co, said up to 15 channel firms expressed interest in acquiring Pars.

"NS Optimum was successful be­cause they gave us the most confidence they would be able to transform the business and continue support for its customers," said Rendle.