Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
The channel M&A machine went into overdrive in 2022, and this year the trade sale was back in vogue.
From Stone and Trustmarque to Q Associates and Caretower, here we count down the 20 largest reseller and MSP acquisitions that fell under our radar during the last 12 months, based on the acquired company's revenues (or UK revenues, in the one instance where the firm in question was headquartered overseas).
We considered any firm in last year's CRN top 100 or 500 VARs (including, in some cases, minority deals).
Although in seven cases the acquirer was a private equity house, a whopping 13 of the 20 companies were snapped up by trade buyers (even if in six of these 13 instances these trade buyers were private equity backed themselves).
And in a reflection of the growing maturity of the PE model in the channel, five of the seven PE deals involved a change of PE houses. Just two were first-time sales to PE.
Click through to see who made our top 20...
20. Risual
Acquirer: Node4
Deal Summary:
Private equity-backed hosting provider Node4 snapped up Stafford-based Risual for an enterprise value of £45m in July, as part of a wider drive to bolster its Microsoft prowess.
Rationale:
Eager to move beyond its core business of providing hosting and managed cloud services from its own datacentres, Providence Equity Partners-backed Node4 has made three acquisitions in the Microsoft space in the last 18 months.
The deal for Azure Expert MSP Risual, which turned over £11.5m in its latest year, follows on from its acquisition of Microsoft Dynamics specialist The NAV People in July 2021 (its largest deal to date).
Node4 said it now plans to create a ‘Microsoft Centre of Excellence', and went on to acquire a third Microsoft partner - Tisski - in November.
The ultimate goal for Node4 is to offer customers both on- and off-premise alternatives in an increasingly hybrid cloud world.
Key quote:
"As Node4 evolves as a business delivering more cloud-led transformation services, risual represents a perfect fit given its track record, consultancy skills and managed services in the public cloud," Andrew Gilbert, CEO, Node4.
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
19. Capital Document Solutions
Acquirer: Agilico
Deal summary:
Managed print provider Agilico announced it had acquired Edinburgh-based peer Capital Document Solutions in October (its biggest deal yet under private equity backer Horizon Capital).
The duo's respective leaders, Simon Davey and Tom Flockhart, began a dialogue in 2020. Flockhart, who founded Capital Document Solutions in 1979, sadly passed away earlier this year, before their plans to merge reached fruition.
Rationale:
Capital Document Solutions turned over £15m in its fiscal 2022, while Agilico's top line hit £51m.
Agilico claimed the deal makes it the UK's largest independent managed print provider, with 40,000 machines in field and 13,000 SME largely SME customers.
Key quote:
"Tom Flockhart and I spent two years working together on this deal to make sure every aspect of it was carefully considered. Though he very sadly lost his battle against cancer before we managed to complete, I know he would be immensely proud of his Board of Directors and family for honouring his wishes to become part of the Agilico group," Simon Davey, CEO, Agilico
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
18. SAS Global Communications
Acquirer: FluidONE
Deal Summary:
In the first major industry M&A move of 2022, FluidONE announced it had acquired £19m-revenue SAS Global Communications on 5 January (although, technically, the deal was officially done in late December).
Rationale:
Livingbridge-backed cloud and networking aggregator FluidONE has a goal of making around two acquisitions a year, CEO Russell Horton (pictured) told CRN in February.
SAS is an SD-WAN specialist based in West Sussex. Its calendar 2020 revenues hit £19m.
SAS will give FluidOne greater access to the large enterprise space and hand it new SD-WAN capabilities with Cisco, adding to its existing strength with Fortinet and Velocloud, Horton explained.
FluidOne went on to unveil a strategic investment in Microsoft partner Marathon Information Technology Services in May 2022.
Key quote:
"We're not looking for distressed businesses, we're looking for quality and it's got to fit with the connected cloud. So you have to really go under the bonnet to see if it's going to fit strategically, because, if it's already a good quality business, then that allows it to get up to speed quicker and cross sell quicker to our base," Russell Horton, CEO, FluidONE
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
17. ACS Systems
Acquirer: Bechtle
Deal summary:
Bechtle's UK arm moved to acquire Northampton-based MSP ACS in November for an undisclosed sum.
Rationale:
The UK operation of this Germany-headquartered reseller giant has been growing steadily over the last decade or so, with 2021 revenues reaching £94m.
Acquiring Northampton-based ACS will add a further £21m to its top line and 93 staff to its existing UK headcount of 120.
ACS' tech portfolio focuses on modern workplace, datacentre and cybersecurity solutions, and managed services.
The duo clearly already knew each other well, having previously worked together on several joint customer projects. ACS' existing management team, including founder and CEO Jon Thorpe, will remain in their roles and oversee the integration process.
Key quote:
"I've known ACS for many years and have always enjoyed working with Jon Thorpe….The cultural fit could not be better and we look forward to the opportunity to scale our mutual business together and become one of the top 10 IT solutions providers in the UK," James Napp, managing director, Bechtle direct UK (pictured above)
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
16. EACS
Acquirer: Espria
Deal summary:
Private equity-backed managed print provider Espria (which was until September known as Mode Solutions) more than doubled its top line in June by acquiring £22m-revenue MSP EACS.
It funded the deal through a debt refinancing by BlackRock, with additional acquisition funds from both BlackRock and its backer Connection Capital.
Rationale:
Espria had already diversified from its roots as a print provider in 2019 by acquiring unified comms and networking services specialist Nix Communications.
The acquisition of EACS was designed to "strategically expand" its capability into managed services while also boosting its geographic reach and more than doubling its existing revenues. Following the deal, the East Hertfordshire-based firm now claims to have three sites in the UK, a combined headcount of 200 and a core customer base of nearly 3,000.
Key quote:
"An acquisition of this size and quality further demonstrates our growth ambitions and evolution from our heritage, as well as delivering on our strategic objectives to offer a full trifecta of digital services to UK businesses from a single source with a reputation for providing an outstanding customer experience," Alex Tupman, CEO, Espria (pictured above)
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
15. OGL Computer Support
Acquirer: Wavenet
Deal summary:
Telecoms and tech solutions provider Wavenet made its fourth acquisition in 15 months in May when it snapped up two-thirds of Kidderminster-based IT group OGL.
The deal encompassed OGL Computer Support Limited and CyberGuard Technologies Limited, with OGL's management keeping hold of its third arm, OGL Software (whose CEO, Debbie Barton, is pictured below) which makes its own ERP software. Together, the three businesses turned over £27m in its fiscal 2021.
Rationale:
Wavenet has continued on the acquisition trail since Macquarie Capital replaced Beech Tree as its majority stakeholder in May 2021. Its fiscal 2021 revenues hit £60m.
It said its acquisition of Microsoft, HP, WatchGuard and Kaspersky partner OGL will broaden its offering and "enhance the service provided to customers".
Key quote:
"The acquisition will enable us to continue to grow our highly successful OGL Software business. Having been actively involved in the running of this side of the business for over 35 years, I am thrilled to be able to head up the newly independent operation as we embark on the next chapter," Debbie Barton, CEO, OGL Software
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
14. Aspire Technology Solutions
Acquirer: LDC
Deal summary:
In a deal valuing it at £85m, Gateshead-based telecoms and managed services provider Aspire Technology Solutions snared backing from private equity house LDC in March.
Deal rationale:
LDC is arguably the UK IT channel's most prolific private equity investor, with Acora, Littlefish, OneCom, Phoenix Datacom and Kerv among its recent or current portfolio firms.
It billed Aspire - which turned over £28m in its fiscal 2022 - as "one of the fastest growing IT managed service and cyber security providers in the UK".
LDC said it will support the Microsoft, Mitel, Cisco and Sophos partner in its pursuit of organic and acquisitive growth. Its full-fibre network, which boasts bandwidth speeds of up to 100 gigabits per second, was also a prime motivation for the deal.
Key quote:
"Working with a leading investor that's right on our doorstep in the North East was really important to us. LDC has an extensive history of supporting businesses just like ours to grow," Chris Fraser, CEO, Aspire Technology Solutions
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
13. Caretower
Acquirer: Integrity360
Deal summary:
Having secured private equity backing in 2021, Irish cybersecurity provider Integrity360 acquired UK peer Caretower in February for an undisclosed sum.
Rationale:
Caretower was one of the few potential UK acquisition targets large enough to sate Integrity360's M&A desires following its sale to August Equity last year.
With 2021 revenues of £28m, the London-based Trellix partner will propel Integrity360's total pro-forma 2022 top line to over £70m. The duo list their common strengths as cyber infrastructure, endpoint and SIEM technologies.
This is not August Equity's first roll-up in the cybersecurity sector. It sold its last such venture, SecureData, to Orange in 2019 for a reported £120m.
Key quote:
"The enhanced group is now clearly positioned as the leading independent cyber security services specialist throughout the UK and Ireland. With over 300 employees including 200 cyber security engineers, analysts, consultants and specialists the group provides a one stop shop for business organisations for all their cyber security needs," Ian Brown, executive chairman, Integrity360 (pictured above)
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
12. Visavvi
Acquirer: SCC
Deal summary:
Birmingham IT group SCC snapped up this 130-employee audio visual integrator in April for an undisclosed sum. The deal will see York-based Visavvi continue to trade under its own name underneath SCC AVS.
Rationale:
SCC was already one of the few large IT resellers with a bona fide audio-visual business, having acquired avsnet in 2018. Visavvi will "accelerate" its presence in the space.
For its part, Visavvi - or Saville Group as it was previously known - endured a tough pandemic, with 2020 revenues shrinking from £40m to £29m as "many" installation projects were delayed and live events cancelled.
SCC also acquired Civica's licensing business in February and recently committed to spending another £300m on acquisitions in the UK, France and Spain over the next five years.
Key quote:
"Visavvi strengthens our capability in education, with its leading specialism in large space AV suitable. Meanwhile, existing Visavvi customers will benefit from SCC's expertise in voice and collaboration, supporting the shift to the digital workplace," James Rigby, chief executive, SCC (pictured above)
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
11. Q Associates
Acquirer: Logicalis
Deal summary:
Logicalis made its first UK acquisition in over six years in August 2022 in the shape of £30m-revenue NetApp partner Q Associates.
Rationale:
The acquisition shows Logicalis is committed to "being at the top table in the UKI partner market", Logicalis UK&I MD Alex Louth told CRN after the deal was announced.
Based in Newbury, data infrastructure specialist Q Associates turned over £29m in its fiscal 2021, drawing around half of the total from the public sector.
Despite some vendor overlap with Logicalis, Louth billed the capabilities Q Associates bring as "extremely complementary", stressing that the latter is "a lot deeper with NetApp…and that's an area we need to really grow".
Key quote:
"Should we come together? Of course we should, because our base is very similar and our solutions are close and naturally come together. Cisco connects everything, while data is everywhere and Q Associates knows what to do with data. For us to get the best out of each other, we will need to come together as a team. But let's not do it overnight because it looks pretty on an org chart, let's do it over a longer period of time so we get the most value out of each other," Alex Louth, UK&I MD, Logicalis (pictured above)
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
10. Incremental Group
Acquirer: Telefónica Tech
Deal summary:
In what was one of the largest UK VAR acquisitions of the year based on deal size, Telefónica Tech snapped up Glasgow-based Microsoft partner Incremental Group for up to £175m in March.
Rationale:
Telefónica Tech sees the UK as one of four key investment territories alongside Spain, Germany and Brazil, and had already moved to acquire Cancom's UK arm last year for €398m.
The addition of Incremental - which turned over £31m in its fiscal 2022 - boosts its skills with Microsoft (at the time of the deal, Telefónica Tech said it had 16 Gold-level competencies and five advanced-level specialisations with Microsoft, making it one of the vendor's largest partners in the UK).
Telefónica Tech also shelled out up to €350m for European Microsoft Cloud solutions provider BE-terna in May, handing it a presence across DACH, the Adriatic region and the Nordics. The acquisitive cybersecurity, cloud, IoT and big data specialist generated revenues of €386m in the three months to 30 September 2022, bringing its year-to-date total to €1.02bn.
Key quote:
"We are now able to provide end-to-end Microsoft services, including digital transformation, managed services and data analytics, and achieve attractive cross-selling synergies with Telefónica Tech UK&I, complementing and positioning us as a leading Microsoft-focused company in the UK," José Cerdán, CEO, Telefónica Tech
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
9. Acora
Acquirer: LDC
Deal Summary:
Previously backed by private equity house Palatine, West Sussex-based MSP Acora bagged a new minority investment from LDC in October 2022.
Deal rationale:
LDC will hand Acora "significant firepower" to accelerate its growth plans, according to its CEO Dave Rabson.
Acora made five acquisitions under previous backer Palatine and now boasts 500 staff. Revenues hit £31m in its year to 31 October 2021.
The new investment round, supported by debt funding from Ares and HSBC, will provide long-term financing for the company's next phase of growth, Acora said.
This isn't the deal in this list to feature LDC - the private equity house also invested in Gateshead-based telecoms and managed services provider Aspire Technology in March.
Key quote:
"This new investment from LDC gives us significant firepower to help accelerate our ambitious growth plans. This investment is all about continuing our existing trajectory over the longer term," Dave Rabson, CEO, Acora
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
8. Inoapps
Acquirer: Abry Partners
Deal summary:
This Aberdeen-based Oracle partner swapped private equity backers in April, replacing existing investor BGF with Boston-based Abry Partners. Founder and CEO Andy Bird retains "joint control" of the ERP specialist.
Rationale:
Having acquired Inoapps in 2013, BGF was evidently ready to cash in its chips. The transaction represented a cool 4.5x return on its initial investment.
Logging flat turnover of £32m in its fiscal 2021, Inoapps claimed that Abry will "accelerate both acquisition-based and organic growth" and back continued headcount growth.
In August, Abry made good on its pledge to help Inoapps grow internationally (Inoapps' sales from outside the UK actually fell from £14m to £11m in 2021) as it backed its acquisition of US Oracle services specialist Tier 1.
Key quote:
"Abry offers something different - a proven track record of helping technology-based businesses capitalise on both the North American and European markets. In addition, the operational support team with experts in various disciplines, made the culture a perfect fit for our next phase of growth as we head towards 1,000 employees by the end of 2022," Andy Bird, CEO, Inoapps
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
7. Littlefish
Acquirer: Bowmark Capital
Deal summary:
In August, private equity house Bowmark Capital made a "significant investment" in this fast-growing MSP, which claims to be "bloodying the nose" of big, global outsourcers. Bowmark replaced previous minority investor LDC.
Rationale:
Backed by LDC since 2019, Littlefish has emerged as one of the UK's fastest-growing MSPs, with revenues rising from £18.6m to £36.4m in its three most recent years. So much so that Littlefish was selected as one of six CRN Rising Stars in 2022 (see our interview with its sales and marketing director, Mark Petty (pictured above) here.
And it has done this all organically.
Bowmark's investment is designed to kickstart the next phase of the Nottingham-based outfit's growth, with plans to add 150 employees inside 12 months. Littlefish also hinted it may look beyond organic growth to help broaden its repertoire.
Key quote:
"The business has been on a significant growth journey over the last 12 years, which has been achieved almost entirely organically. While we anticipate continuing our organic trajectory, we're also keen to invest in broadening our portfolio, particularly in the fields of DevOps, digital transformation, and data management," Steve Robinson, CEO, Littlefish
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
6. BCN Group
Acquirer: ECI Partners
Deal summary:
This Manchester-based MSP swapped private equity backers in August, with ECI Partners coming on board in place of Beech Tree Private Equity.
Rationale:
BCN made five acquisitions and quadrupled revenues to £40m during its four-year spell under Beech Tree, in the process transforming from an IT hardware reseller to a Microsoft-focused MSP.
ECI said it intends to "continue this buy-and-build strategy going forwards". And it has pedigree in this regard, having exited Content+Cloud in December 2021.
Beech Tree claimed it bagged a 5.3x return on its initial investment in 2018.
Key quote:
"BCN Group is a fantastic business that puts the customer at the heart of its organisation. The rising importance of IT, digital transformation, and cloud adoption, combined with BCN's fantastic customer reputation, means that BCN is incredibly well positioned to further expand its capability, geographical presence and customer offering both organically and through M&A," Mark Keeley, partner, ECI
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
5. Version 1
Acquirer: Partners Group
Deal summary:
This Dublin-headquartered Microsoft and Oracle partner swapped private equity backers in April in a deal sources say valued it at up to €800m, according to local press reports.
Rationale:
Having grown revenues from €100m to €240m under previous PE backer Volpi Capital, Version 1 billed Switzerland-based Partners Group as its "new partner and majority shareholder for the next phase of growth".
Version 1's UK business generated revenues of £73.7m in 2021.
The transaction represents a mouthwatering return for Volpi, which made a €90m investment in the ERP software specialist in 2017.
Employing 2,100 staff in Ireland, the UK, India and Spain, Version 1 has made a total of 13 acquisitions to date.
Key quote:
"We thank Volpi Capital for their important and supportive role that has enabled Version 1 triple in size over the past five years. We are extremely pleased to have secured Partners Group as our new partner and majority shareholder…. Partners Group's sectoral knowledge and international reach will be as important to Version 1 as their investment and endorsement of our growth strategy," Tom O'Connor, CEO, Version 1
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
4. Total Computers
Acquirer (minority): Phil Doye
Deal summary:
Channel stalwart Phil Doye made a "minority investment" in this £90m-revenue IT solutions provider in November.
Rationale:
Having sold Kelway to CDW in 2014 Phil Doye made a sensational return to the UK IT channel in 2019 by acquiring York-based software licensing specialist boxxe.
Three-and-a-half years on, Doye has taken a stake in more of a hardware-focused IT solutions provider in the shape of Total, which turned over £91m in fiscal 2021.
Although Doye has yet to reveal his plans for the investment, he is clearly a long-time admirer of the Kettering-based firm. He praised Total's "huge ambition" and stressed that he has known its CEO Aidan Groom and CRO Kevin Goodall - the latter of whom joined Total via its July acquisition of OverBright - for "many years".
It's also interesting to note that the minority investment echoes CDW's initial 35 per cent investment in Kelway (CDW went on to grab the remaining stake in 2015).
Key quote:
"Aidan and the team at Total Computers have proven they are trusted partners with huge ambition. The opportunity to help them make an even bigger difference to the market was one that I simply could not turn down," Phil Doye (pictured above)
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
3. Cloudreach
Acquirer: Atos
Deal summary:
Having first announced the deal in December 2021, IT services giant Atos closed its acquisition of this public cloud migration specialist on 4 January 2022. Founded in 2009, Cloudreach employed 600 staff at its offices in London USA, Canada, the Netherlands, Germany, France, Switzerland and India.
The deal size was undisclosed.
Rationale:
Atos said the deal would bolster its position as "the multi-cloud powerhouse", highlighting Cloudreach's top-level partnership with AWS, Microsoft Azure and Google Cloud.
Although Atos said Cloudreach's calendar 2021 revenues were on course to hit €100m.
For its part, Cloudreach was coming up to five years under private equity ownership, having been snapped up by Blackstone in 2017. Blackstone apparently felt it was the right time to recoup its investment.
Key quote:
"Coupled with Cloudreach, Atos grows its position as the multi-cloud powerhouse, especially strengthening our global leadership position delivering AWS solutions. Further, as the company's largest region, Atos Northern Europe now has a potent combination to deepen the development and delivery speed of digital services for our customers," Adrian Gregory, acting co-CEO, Atos
Countdown continues on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
2. Stone Group
Acquirer: Converge Technology Group
Deal summary:
Having sold up to private equity firm Souter in 2019, PC builder Stone changed hands again in September as Canadian peer Converge swooped in. It agreed to pay £39.2m upfront for an 89 per cent stake in the Staffordshire-based outfit, with Stone management (including CEO Simon Harbridge, pictured below) retaining an 11 per cent stake.
Rationale:
Acquiring 35 companies inside five years, Converge is hell-bent on European expansion, leaping into Germany earlier in the year by acquiring a trio of local edtech suppliers.
With trailing 12-month revenues of £140m, Stone has a strong sustainability play thanks to its Stone 360 App, the Canadian firm noted in its press puff. The PC builder, reseller and ITAD also hands Converge access to a range of juicy education and public sector contracts.
For their part, Stone's previous PE backers evidently felt that three years in was the optimal time to flip their investment.
Key quote:
"2022 has been a monumental year of growth for Converge in the European market. Along with our recent acquisitions in Germany, we are excited to leverage the knowledge and skills of Stone Group and its teams to continue enhancing our capabilities and offerings to our clients in the United Kingdom and European Union," Shaun Maine, CEO, Converge
Countdown concludes on following page...
Top 20 UK reseller and MSP acquisitions of 2022
From Stone and Trustmarque to Caretower and Q Associates, here we count down the biggest deals of the last 12 months
1. Trustmarque
Acquirer: One Equity Partners
Deal summary:
Capita completed its £118m sale of Trustmarque to private equity house One Equity Partners on 1 April 2022, after first announcing the deal in January.
Rationale:
Having acquired the Microsoft partner (for £57m) in 2016, Capita put Trustmarque on the chopping block last year as part of a wider non-core disposal drive.
York-based Trustmarque generated a pre-tax profit of £16m on revenues of £122m in 2020, Capita said. But going by the £333m in gross invoiced income reported in Trustmarque's 2020 accounts (its 2021 accounts were about to be filed as this article went to press), it is the biggest VAR acquisition of the year from a top-line perspective. CRN understands that Capita chose to roll some of its other similar business into Trustmarque ahead of the sale, which would make that figure significantly larger still.
The deal marked a "significant step" in cutting Capita's debt while helping it simplify its business, its CEO Jon Lewis said. Trustmarque's management claimed it now has an owner committed to growing the business, meanwhile.
Key quote:
"I know I speak for our 400 plus colleagues when I say that we are exhilarated at the prospect of beginning a new chapter with One Equity Partners. We will be an independent business with the support of a shareholder that is committed to investing in the business to build a broader platform of customers and capabilities. This presents us with a great opportunity to invest in our brand and to affirm our position as one of the UK's most prestigious value-added resellers," Trustmarque managing director, Ben Richardson