IT Service and Support Company for Sale

• Successful provider of fully managed IT support, hosted/cloud services, business continuity and disaster recovery solutions.

• Based in central London with clients predominantly in London and South East.

• Strong contracted revenues accounting for c.60% of total turnover in the financial year to March 2015.

• High quality and loyal customer base, primarily from the private equity market.

• Majority of contracts are 12 month contracts with 3 month notice periods.

• PC users range between 2 to 350.

• An average of c.29% YOY growth in the last 2 financial years.

• Highly profitable with 22% EBITDA in financial year 2014/2015.

• Strong team of mostly long-serving, highly-skilled and experienced employees led by a solid second tier management team.

• Solid business infrastructure which would enable significant future growth.

• Long track record of successful support for medium sized and larger organisations.

• Strong opportunities to cross sell other products and services into existing client base.

• Excellent customer retention.

• Microsoft Small Business Specialist, Microsoft Silver Partner for Midmarket Solutions. Hosting Partner, Datacenter partner, Dell and HP registered partner, Accredited Adobe reseller and a Cryoserver Certified Partner.

• The business would be of particular interest to either a London-based trade buyer as a bolt-on, or as a strategic acquisition to a non-London based firm wanting a foothold within the M25.

Products and Services

• IT Support Services: on-site and remote
• Full range of cloud services including Office 365.
• Project Management
• Firewalls, network security and remote access.
• IT Security Solutions
• Hardware sales
• Comprehensive electronic record archiving

Employees

• Operations Director and Projects Director (vendors) and team of 11 staff including a Technical Services Manager, Service Desk Manager and 8 service desk engineers (including team leader).

Premises

• Fully serviced offices in central London with 11 desks and room for expansion.
• Lease has a potential break at the end of January 2016.

Reason for sale

• One of the Vendors, the Operations Director, wishes to retire. The other, the Projects Director, would provide a full handover of the business and may be susceptible to staying with the business in the long term if this was mutually desirable.

Financial overview

SOLD