Thu, 13 Sep 2012 | BUSINESS SALE
Northgate Managed Services (NMS) is up for sale with a number of parties said to be interested in making a purchase.
It is thought that parent company Northgate Information Solutions (NIS) is looking for a bid in the region of £100 million for the IT infrastructure service provider, but whether or not it will manage to achieve this level of investment is unclear.
Sources claim that the business is being sold because NIS is keen to maintain its focus on HR and business process outsourcing, rather than IT infrastructure service.
Mark Fisher, managing director at Jefferies International, is brokering the sales talk, according to reports from The Channel.
NMS's annual turnover for the year to 30 April stood at £128.7 million, up 12 per cent from the previous year's figures. The operating profit from this stood at £204,000 before significant provisions, amortisation of goodwill and exceptional pension fund credit were taken into account.
The director's report which contained these figures also noted that NMS had seen “significant upheaval in its core markets as a result of the shift in government policy and the impact of the Comprehensive Spending Review.”
Anybody considering buying NMS will, however, need to take into account the pension deficit that the business is running. At the end of the 2011 fiscal year, the deficit before tax stood at £9.58 million.
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