IT Support Services Business SOLD

Reference Number: HA0155

Location:

Turnover: £180k

Status: SOLD

Business overview

–      Outstanding opportunity to acquire a successful IT support consultancy, with a niche service offering and loyal client base, based in London.

–      The business has delivered steady revenue over the past 4 years and continues to do so despite the current economic climate.

–      Established in 1999, the business has developed an extremely loyal client base which is evenly spread with no one client representing more than 12% of the revenue.

–      Over 90% of current business is from the existing client base, which includes media and advertising clients as well as property, travel and interior design sector clients

–      Over 40% of the revenue is generated from clients who make regular monthly payments under contract

–      The business has a well defined brand and unique service offering in what is a crowded market sector

–      The business employs a team who can run the business day to day with minimal input from the vendor, the vendor being focused on business development and sales

–      This business would be of particular interest to other IT support companies that are looking for a strategic acquisition to add to their portfolio. Significant synergy savings are possible for such buyers who already have a base in London/South East UK.

Products and Services

–      The business offers IT support services on a business to business basis including:

  • Support/maintenance contracts
  • Managed services (including email hosting and back-up systems)
  • Consultancy projects
  • Hardware and software sales

–      The company offers expertise in both MAC and PC systems and equipment.

Employees:

–        1 directors (vendor) + 1 office admin + 1 junior engineer + 5 regular experienced freelance IT consultants

Premises:

–        The business operates from a serviced office.

–        Rent: £7,005 per year, Rates: £1,629 per year, Notice period: 3 months.

Reason for sale:

–        The vendor wishes to concentrate on another unrelated project in the charity sector.

Financial overview

Year End: 31st March 2007-08 2008-09 2009-10
Sales revenue £190,904£200,513£181,241
Adjusted Gross Profit£93,397£101,457£96,683
Percentage 49%51%53%
Adjusted EBITDA £78,945£69,330£61,715
Percentage 41%35%34%
SOLD

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