Adept4 acquires CloudCoCo, plans rebranding

Tue, 22 Oct 2019 | BUSINESS SALE

Warrington-based IT services provider Adept4 has completed the acquisition of cloud technology company CloudCoCo Ltd.

The deal had been agreed earlier this month and went through following shareholder approval at a general meeting held Monday (October 21).

Following the deal, CloudCoCo chair Andy Mills has been appointed Chief Executive Officer of Adept4. Adept4 has, additionally, exercised a call option on the loan notes it issued as consideration for the acquisition, issuing 218.2 million acquisition shares to sellers in exchange. Adept4 has also completed its debt refinancing.

Upon full completion of the acquisition, CloudCoCo Ltd. will rebrand as CloudCoCo Group Plc. The rebranding will be followed by a change of web address and trading ticker.

Commenting on the acquisition, Adept4 Chair Simon Duckworth said, “I am delighted that we have now completed the acquisition of CloudCoCo and, at the same time, revised the terms and reduced the level of the group's indebtedness.

"I would also like to welcome Andy Mills to the board. We are very much looking forward to working with Andy and his team as we set about integrating the two businesses. This is an opportunity for us to put Adept4 on a much sounder footing and we approach the future with renewed enthusiasm and vigour."

New Adept4 CEO Andy Mills commented, “I know I speak on behalf of CloudCoCo's founder Mark Halpin and the rest of my colleagues when I say that we are all delighted to be joining the Adept4 team.

"We see a great opportunity ahead to generate value for all stakeholders in the enlarged business through harnessing our sales and marketing skillset with Adept4's technical knowledge and product suite. The hard work starts immediately and we look forward to reporting our progress over the coming months.”

Adept4 shares closed up 17 per cent at 3.22 pence in London on Monday.

For more information about successfully sourcing, approaching and buying a rival business, see the guide to Acquisition Strategy.

View businesses for sale.

Share this article

Latest Businesses for Sale

Phone & Computer Sales & Repair Business
Liverpool, UK Wide

This is a very exciting high end opportunity with many different income streams from phone, computer, tablet sales and repairs. The business has been trading for 8 years and enjoys a substantial turnover which is derived from shop sales selling phone...

Asking Price: £580,000
Turnover: £390,000


Provider of IT Managed Security to SMEs
South East, UK

Provides a range of managed services including consultancy, user and infrastructure assurance, monitoring, analysis and information security. Focuses on delivering IT and Information Security Managed Services to SMEs. Offers invited.

Asking Price: Offers Invited
Turnover: £1,400,000


IT Outsourcing Company
UK Wide

Services cover IT support, communications, cloud services and security. All clients benefit from a dedicated Accounts Manager. Works with circa 120 active clients, all of whom provide reliable, repeat business. Offers invited.

Asking Price: Offers Invited
Turnover: £1,000,000


View more businesses for sale

News Search

Latest News


Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...


Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...


Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Adept4 IT service provider to acquire Leeds cloud technology firm | BUSINESS SALE

Adept4, an AIM-listed IT services company based in the North...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources