Mon, 07 Jul 2025 | BUSINESS SALE
Venridge Limited, a Yorkshire-based managed services provider (MSP) trading as Contrac IT, has been acquired by Australian-owned telecoms firm Leading Edge Group. The deal is said to strengthen the market position of both companies, creating opportunities for further growth, and providing Contrac IT with access to new markets in Sydney, Australia and Cardiff, where Leading Edge’s UK operations are headquartered.
Leading Edge Group is an authorised BT partner and has been expanding its presence in the UK technology space. The acquisition of Contrac IT provides the group with an established MSP well-primed for growth. The deal is said to align with the group’s strategy of diversifying its portfolio into new markets with cloud-based managed services, via expanded services with culturally-aligned organisations, providing it with a platform for organic growth.
As part of the deal, Contrac IT shareholder Mark Harding will remain with the business in order to ensure operational and leadership continuity, while co-owner Paul Simmonds has exited. The transaction will support Contrac IT’s long-term goals of streamlining operations, improving efficiency and positioning itself for further growth, both organically and through M&A.
Discussing the deal, Mark Harding said: “Looking ahead, we plan to focus on expansion across several key areas, including leveraging new business opportunities, optimising internal systems to improve efficiency, broadening its geographical reach both within the UK and internationally, and pursuing our own strategic acquisitions to accelerate growth. While operations will remain stable in the immediate term, the long-term strategy will involve deeper integration with Leading Edge Group.”
The transaction was facilitated with support from M&A advisory Marktlink, which guided the deal from preparation through to completion, including structuring the transaction, identifying and engaging potential buyers and leading deal negotiations.
Harding said: “Marktlink’s guidance in managing expectations, structuring the deal and resolving transaction complexities was crucial to achieving the best possible outcome for the business.”
He added: “This experience has been an essential curve and we now look forward to future acquisitions ourselves.”
Daniel Hill, CEO of Leading Edge (UK), commented: “This acquisition is a major strategic step for Leading Edge, enabling us to diversify our portfolio and expand our reach. Utilising Contrac IT’s proven expertise and customer service, enabling us to access new markets.”
Occurring amid significant consolidation within the UK IT services sector, the deal is described as positioning both Contrac IT and Leading Edge Group to capitalise on emerging opportunities on the market.
Over recent years, Leading Edge UK is said to have seen “meteoric growth" in both revenue and profitability, recording top-line growth of over 100 per cent in each of its last two financial years.
Find out more about the factors that have shaped telecoms and IT M&A in the past few years
Explore an established engineering firm offering innovative software engineering solutions and digital transformation services, backed by an outstanding reputation and industry accreditations.
This is a unique opportunity to acquire a well-established UK business specialising in hosting, managed IT services, and backup software solutions.
This business offers a strategic opportunity to gain immediate access to the Asian market through its comprehensive suite of Managed IT Services tailored for European and US companies with operations in East and Southeast Asia.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.