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Articles about Mbo

Entanet calls on equity firm Mobeus to back £14m MBO

Wholesale internet connectivity services provider Entanet has completed a £14m managed buyout with the backing of private equity firm Mobeus. MD Elsa Chen, financial director Ian Brewer and sales director Stephen Barclay were involved in the deal that saw the VC stump up £6m to invest in workforce (currently 85 heads) and …
Paul Kunert, 21 Feb 2014

Trustmarque completes £43m MBO

Management at Trustmarque Solutions (TMS) have completed a buy-out of the business for £43m with the financial backing of mid-market private equity specialist Dunedin. The MBO was headed by CEO Scott Haddow and sales and marketing director Angelo di Ventura, a pair that were brought on board by previous VC partner Lloyds …
Paul Kunert, 10 Jun 2013

Trustmarque: £2m profits evaporated after accounting change

A change in revenue recognition wiped £2m off Trustmarque’s profits according to the firm’s strategic and financial report, which also provides more details on its near-collapse and subsequent sale to Liberata. As revealed, the York-based enterprise software licensing biz ran into cash flow difficulties last month after changing …
Paul Kunert, 09 Oct 2014
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Suitors line up to bid for cash-challenged NHS supplier

Top brass at Trustmarque Solutions are locked in talks with interested parties in a bid to sell the financially challenged biz this week – at least that is the plan. As exclusively revealed by us earlier this week, Dunedin, private equity backers of the York-based licensing specialist, claimed a change in revenue recognition in …
Paul Kunert, 04 Sep 2014

Trustmarque sold to biz process outsourcing specialist Liberata

Business Process Outsourcing biz Liberata has swallowed troubled Microsoft enterprise partner Trustmarque for an undisclosed sum. The solvent sale was concluded late last night, avoiding the need for the York-headquartered reseller to call in the administrators, something that seemed liked a possibility 10 days ago when issues …
Paul Kunert, 11 Sep 2014
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Capita says bye-bye to Updata bigwigs: Been good slurping you

Crapita Capita IT Services is bidding farewell to the boss of acquired broadband network service provider Updata as it slaps the operation together with the exiting Network Managed Services (NMS) division. Surrey-based Updata was acquired for a tasty £80m on April's Fools Day. The exit of Richard Bennett, who was at the helm of …
Paul Kunert, 18 Jun 2014

Management gobble food-tracing-by-Microsoft firm Anglia

The management at Anglia Business Solutions has completed a £6m buyout of the Cambridge-based Microsoft Gold partner. The team behind the MBO was led by Group CEO Robert Frost and the funding was stumped up by the execs, alongside WestBridge Capital, The Co-Operative Bank and a US VC group. Frost said in a canned statement the …
Paul Kunert, 14 Dec 2012
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Dimension Data hoovers up NextiraOne's Euro operations

Dimension Data has hoovered up certain subsidiaries of comms and networking integrator NextiraOne after the deal was given the green light by the European Commission's Mergers and Acquisitions team. The cash terms were not disclosed but initially Di Data will swallow 13 Euro country operations – including the UK – and, dependent …
Paul Kunert, 04 Feb 2014

Trustmarque swallows Scot services house Opin Systems

Top table Microsoft Gold partner Trustmarque Solutions has devoured Glasgow-based tech services and consultancy minnow Opin Systems for an undisclosed sum. Opin, which set up in 1990, counts some heavy duty customers on its books including the UN, The Student Loans Company, The Scottish Prison Service and RBS. It sells …
Paul Kunert, 09 Dec 2013
European Union Flag

How much? Who knows. EC gagging order on DiData acquisition continues....

Dimension Data will only chow down on the entire European organisation of NextiraOne once certain sales criteria are met, the South Africa-HQ'd NTT-owned integrator whispered to us as the European Commission comms blockade continues. Acquisitive DiData has emerged as a suitor of the comms and networking reseller NextiraOne but …
Paul Kunert, 04 Dec 2013
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Capita closing in on public WAN player Updata

Top brass at Surrey-based broadband network services player Updata Infrastructure UK are understood to be mulling over a leading offer from Capita, sources have told us. As The Channel revealed last November, public sector player Updata confirmed it was locked in "active" discussions with a bunch of interested parties. People …
Paul Kunert, 14 Feb 2014
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Arc completes MBO

Arc Technology Distribution has completed a management buyout (MBO) of its majority shareholder Owen Dukes. The company's senior management team, including sales director Stuart Reay and finance director Robin Draper, funded the MBO. Dukes, now CEO of server-based software provider Propalms, was previously managing director of …
Kelly Fiveash, 21 Mar 2007
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Dimension Data tables bid to swallow global services biz NextiraOne

NTT-owned Dimension Data has tabled a bid for comms and networking reseller NextiraOne in a deal that is currently awaiting approval by the European Commission's Merger & Acquisitions office. A spokeswoman at South Africa network integrator Di Data confirmed that it had "made an offer" but was unable to make any further …
Paul Kunert, 02 Dec 2013
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Brit IT veteran Kelly takes job at investment advisory firm

A British tech biz veteran and former bigwig at integrator Logicalis UK, Tom Kelly, has landed at mid-market M&A and debt advisory firm Livingstone. He joins Livingstone as IT and managed services sector advisor to help further boost its presence in Blighty's tech space, perhaps a sign of the local market's improving fortunes. …
Paul Kunert, 09 Oct 2013

Management buyout at Hamilton Rentals AGAIN

Hamilton Rentals is again a privately owned channel biz after the management team led a buy-out from previous proprietor Xchange Technology Group. The leasing outfit was consumed by Compel in 1996, which was itself flogged to 2e2 in 2007, before Hamilton top brass performed an MBO in 2008 and sold up to XTG in 2011. So far so …
Paul Kunert, 13 Aug 2013
For Sale sign detail

MBO off at Computacenter

A management buyout bid at Computacenter’ has been terminated, meaning the dealer giant’s shares will stay on the stock market – for now at least. The bid emerged last November. It was led by Computacenter co-founder Peter Ogden and encompassed senior executive management at the firm. However, the firm announced today that the …
Team Register, 19 Jan 2006
channel_partners_deal_handshake

Computacenter bigwig dethrones older brother to head up Camwood

Fresh from its MBO, application portfolio management firm Camwood has lured Computacenter (CC) alliances director Adrian Foxall to move across as CEO. The board of the London-based Camwood bought out backers Matrix Partners and Foresight in April, some nine years after the venture capitalists first invested in the business. …
Paul Kunert, 14 Jun 2012
hands waving dollar bills in the air

ISIS backs Bolden James MBO

ISIS Equity Partners has backed a £5.5m management buyout of messaging and connectivity vendor Boldon James. The MBO was led by Bolden James managing director Martin Sugden. He said that while the company’s traditional markets, such as the military and government sectors, had long grasped the importance of augmenting basic …
Joe Fay, 23 Jun 2005
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Calyx shareholders approve MBO

Shareholders in the IT services firm Calyx have voted overwhelmingly in favour of a management buyout by chief executive Maurice Healy and his management team. The buyout is worth €103.8m. Healy currently owns 19.3 million shares in Calyx, representing almost 28 per cent of the company. Under the terms of the buyout, he will …
Stephen Errity, 04 Jul 2007
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Computacenter MBO team says no new bid

The leaders of an MBO bid for Computacenter have rejected reports they are considering raising their bid for the struggling reseller. Sunday newspaper The Business reported yesterday that a group led by Computacenter’s founders Peter Ogden and Philip Hulme were preparing to raise their offer for the company to 270p to 275p per …
Team Register, 12 Dec 2005
The Register breaking news

Fast24 completes MBO

Suffolk-based ISP Fast24 Ltd has split from its parent company following a management buy-out. Financial details concerning the MBO were not disclosed. The broadband ISP with dial-up and web host punters was launched by Lark Computers in 2000. It later separated from its parent after turnover outgrew Lark. Since then, the ISP …
Tim Richardson, 12 Nov 2004
The Register breaking news

Xpert Systems conducts MBO

Management at Xpert Systems, a networking equipment reseller, has bought the company for an undisclosed sum. The MBO was funded by Lloyds Development Capital. The company expects to generate £36 million in revenues during this financial year and employs 210 people in five UK outlets and Dublin. ®
Drew Cullen, 07 Jun 2001
The Register breaking news

Memory Plus MBO

Memory Plus has been bought via a management buyout for £800,000 cash. The MBO from former parent company Torridon was headed by Jon Blows, previously general manager and now MD of Memory Plus. The move, said to be a "friendly" MBO, has been underwritten by Euro Sales Finance (ESF). It ends five-months of discussion between …
Linda Harrison, 09 Mar 2001
The Register breaking news

Furore over Comparex Europe MBO

A former director of Comparex has placed two full page ads in Business Day, in South Africa, slamming the networking reseller's proposed sale of its European operations for a bargain basement price to an MBO team. Dave Sullivan, who calls the attempted MBO a 'cash heist' is calling on shareholders and staff to vote against the …
Drew Cullen, 23 Oct 2002
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RMS swallowed by Pinnacle Telecom

Bosses at Redstone Managed Security (RMS) have sold up to cloud provider Pinnacle Telecom for £468,000, less than half the value of the deal they struck in an MBO last December. At the tail end of 2010, RMS management sealed a £1m bid for the security reselling and services outfit with previous owner Redstone – including £500, …
Paul Kunert, 10 Oct 2011
The Register breaking news

MBO SNAFU – CCM MD OUT

The MD of Cheshire-based distributor Computer Components Marketing (CCM) has quit after a failed MBO attempt. Brent Cutler was trying to lead a management buyout of the components distributor from its parent company Fundamental e-Investments. He had tried unsuccessfully to buy the distribution arm twice in the last four years …
Linda Harrison, 22 Sep 2000
Logicalis

Logicalis UK boss Tom Kelly to stand down in New Year

Logicalis veteran UK MD Tom Kelly has confirmed he is stepping down in the New Year. "Ten years is a long time," he revealed to The Channel. "It is time for a change and to face new challenges." The exec is helping with succession planing but is due to hand over control to the next UK boss at the end of February when Logicalis' …
Paul Kunert, 28 Nov 2012
StoneComputers

Stone's veteran CEO Bird flies the nest

Stone Computers has confirmed that longstanding chief exec James Bird has left the building. The search for a successor is well underway but these are big boots to fill - Bird founded Stone in 1991 and has been pretty much at the helm ever since, save a year's absence in 2005. That was the year Bird sold the business to the …
Paul Kunert, 12 Oct 2012
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Daisy Group plans to keep buying up biz, despite hole in purse

Acquisition-hungry business comms provider Daisy Group plans to continue hoovering up firms despite posting significant operating losses for the third consecutive year. Sales for the 12 months ended 31 March 2012 were up 31 per cent to £348.6m, including a chunk of revenues from the businesses it acquired over the past year: …
Paul Kunert, 20 Jun 2012
homeless man with sign

Black Box UK branch in MBO

The north-west UK arm of Black Box Network Services is striking out for independence, following the reseller’s decision to concentrate UK operations in Reading and Nottingham. Management of Optech Fibres Ltd, its original name before it was bought by BlackBox in 2001, has bought the Barrow-in-Furness business for an undisclosed …
Team Register, 11 Aug 2005
The Register breaking news

Two more CHS divisions hit the MBO trail

More management buy outs are taking place at CHS Electronics – this time in its Irish and Scandinavian subsidiaries. In a deal approved on Monday, a consortium from Romak Computers in Ireland, Santech Micro Group in Sweden, and CHS Electronics divisions in Denmark and Norway agreed to buy out the two divisions. The businesses …
Linda Harrison, 18 Nov 1999
The Register breaking news

Karma MBO confirmed

Andy Chandler today confirmed he would be the new skipper at the helm of Karma UK. Chandler expressed his surprise at the past few weeks' events, which saw the distributor dragged into administrative receivership in the wake of its sister companies CHS Electronics Plc and Metrologie. On Friday at 9pm, Chandler and an internal …
Linda Harrison, 02 Nov 1999
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Intrinsic Technology boss Mason exits

Intrinsic Technology bigwig Mike Mason has left the unified comms and cloud reseller less than eight months after leading a management buy-out. Management handed the princely sum of £30m – with the backing of by venture capitalist RJD Partners – to founder and majority shareholder Allan Gauld in July, with Mason remaining in the …
Paul Kunert, 02 Mar 2012
The Register breaking news

MBO moves Earth for Scottish seismic software specialist

Concept Software, Scotland’s groundbreaking seismic software company, is being bought out by the management in a £36 million deal. The MBO is funded partly by £12 million of equity from the London-based venture capitalists, 3i, and The Royal Bank of Scotland is providing £17.5 million of senior debt and mezzanine facilities. …
Janice McGinn, 27 Oct 1998
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MBO splits Star and MessageLabs

Managed security services firm MessageLabs and Star Technology Services, the business-focused ISP that gave it birth, are to become separate companies via a management buyout of Star. Terms of the deal were not disclosed. Star Technology Services will now operate independently under a management team already in place. As well …
John Leyden, 12 Jun 2007
The Register breaking news

Update: Olivetti MBO is confirmed

Shareholders in Italian vendor Olivetti Computers Worldwide (OCW) have approved the company's proposed MBO. But UK distributors believe this is just the first step, and that the company's main difficulty lies in getting the kit and confidence back into the channel. Last week, a proposal was put to shareholders that an MBO would …
Linda Harrison, 05 Mar 1999
The Register breaking news

MBO for Dan network business

PC assembler Dan Technology has sold its networking installation arm to managers Dan Network Solutions, bought by Dan three years ago, will call itself Paragon Communications (its former name). The MBO cost £1 million. It was led by Dan Networks MD Phil Gamble who said: "We work better as part of a separate company than as …
Robert Blincoe, 30 Apr 2001
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Calyx yields to MBO

Calyx, the Irish computer reseller, has agreed to a management buyout of the firm, led by chief executive Maurice Healy. The deal, which will give shareholders £1.01 per share, values Calyx at around £70.2m (€103.8m). The bid was made by the consortium Stornoway, which was created to make the acquisition, and consists of …
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Intrinsic Technology flogged to management for £30m

Intrinsic Technology chief exec Mike Mason has led a management buy of the Merseyside-based reseller backed by venture capitalist RJD Partners. In a statement, Mason confirmed the MBO team had bought the business from founder and majority shareholder Allan Gauld for £30m, an eye-watering price despite healthy 2010 results. …
Paul Kunert, 05 Jul 2011
The Register breaking news

CCM Distribution outlines post MBO strategy

CCM Distribution expects to have its MBO wrapped up by the end of May, and has outlined plans to grow sales to £30 million for this financial year. The Cheshire-based business last week announced it was switching tactics to become a high-tech investment house called Fundamental e-Investments. As a result, CCM MD Brent Cutler is …
Linda Harrison, 07 Apr 2000

VC plans to flog or float public sector biz Civica next year

Private equity backers of public sector services and software player Civica are reportedly gearing up to punt or float the business early next year. Venture capitalist 3i is reviewing its options, says the FT. This comes more than four years after 3i forked out £190m to take the one-time AIM-listed operation private. Investment …
Paul Kunert, 03 Oct 2012
globalisation

Blighty's largest iPad reseller formed in biz gobble deal

London-based reseller Trams Group has snapped up the UK operations of Cancom from its German parent Cancom AG for an undisclosed sum. This is the second acquisition the Apple Authorised reseller has made - it took over Rapid Group in 2008 - since directors Warren Peel and Alex Page led an MBO nearly nine years ago. The reseller …
Paul Kunert, 16 Mar 2012
DVD it in many colours

VegaStream goes it alone after £4m MBO

VegaStream was today relaunched as an independent company after completing its management buy-out from Pace Micro Technology. The VoIP (Voice over IP) gateway manufacturer used £4 million of investment capital to cut the corporate apron strings with its old parent. The main investors financing the move were VC firm MTI Partners …
Robert Jaques, 18 Sep 2003
The Register breaking news

Logical flogs French ops to MBO team

Logical, the Datatec-owned networking equipment reseller, is flogging its French ops to an investment constortium including the current management. Terms are undisclosed. In a statement Datatec and Logical Group chief executive Jens Montanana said the disposal was consistent with Logical's decision to concentrate on countries …
Drew Cullen, 22 Jul 2003
The Register breaking news

MBO planned for Gateway UK and Ireland?

Plans for an MBO are afoot at Gateway's UK and Irish operations, we believe. The US PC maker announced it was shutting down UK and Irish operations, with the loss of 1,200 jobs last week, but it seems the local management think there's life in the business. This is in spite of the collapse of European sales by 46 per cent in …
Robert Blincoe, 14 Aug 2001
The Register breaking news

CCM hives off distribution in MBO

An MBO and a name change will see CCM Distribution re-invent itself as a hi-tech investment house called Fundamental e-Investments and divest itself of its current core business. CCM managing director Brent Cutler will lead the MBO of the computer components distribution arm, which will continue to operate as normal, according …
Sean Fleming, 31 Mar 2000
The Register breaking news

Infobank sells cash-cow in MBO

Infobank International Holdings is offloading its software business with a loss of around £2 million in an MBO. The UK reseller today said it would sell Internet Software Corporation for £6.5 million in an internal takeover headed by the division's founder and MD Paul Ridley. Payment will be £3 million cash, £2 million in …
Linda Harrison, 29 Nov 1999
The Register breaking news

UK MBO for Touch PC biz

The British management team of Touchstar Technologies has bought the company for an undisclosed sum. Venture funding was supplied by Lloyds TSB Development Capital (LDC). Touchstar is the maker of TouchPC rugged, hand-held computers and application software. Turnover is £17m and the business operates out of five locations in …
Drew Cullen, 13 Sep 2001
The Register breaking news

MBO at Engage Ad-serving unit

ComputerWire: IT Industry Intelligence CMGI Inc's former dot-com empire continued to unravel yesterday, with the announcement that Engage Inc's internet ad delivery unit has been bought out by its founding management team. The unit, which provides advertising systems to the likes of Microsoft and Travelocity, will be named …
ComputerWire, 07 Nov 2002
The Register breaking news

End of the line for Siemens MBO hopes

Siemens' crippled microchip plant in Tyneside has received another blow following the death of a management buyout proposal. Talks collapsed with Siemens yesterday, when the German electronics giant rejected the offer. This ends the 250 employees' best chance of keeping the factory open beyond the June deadline set by Siemens. …
Linda Harrison, 05 Feb 1999