Wed, 25 May 2016 | MBO/MBI
Giacom World Networks, a cloud IT and communications technology provider based in Hull, has been acquired in a successful management buyout (MBO).
The MBO was backed by mid-market private equity firm LDC, which will take a significant minority stake in the business, for an undisclosed sum. The backing will enable the business to continue its recent growth and capitalise on the recent trend for SMEs moving all digital services into the cloud.
Giacom World Networks was founded in the late 90s by Nick Marshall, who will stay on to lead the company as its chief executive officer. The cloud IT services firm currently runs a network of more than 3,500 IT consultants, service providers and resellers via its MessageStream platform — a proprietary service that Giacom World Networks hopes to expand, while also integrating more cloud services into the products that it offers.
Chief executive Nick Marshall said of the deal: "Bringing LDC on board will help us deliver our next phase of growth. As well as giving the business access to the capital we need to scale, LDC is a partner who understands not only our sector, but also our vision and ambition for the future. This is an exciting time for our customers, our network of consultants and our people.”
In the year running until 31 July 2015, Giacom World Networks’ turnover reached £3.81 million, while pre-tax profits rose during the same period from £773,058 to £1.18 million.
For more information on the subject of MBOs and other business-buying strategies, see the Business Sale Report resource on what to look out for when buying a business.
Supplies uPVC windows and doors to home and small business owners in the UK. Operates from freehold premises. Excellent potential for continued growth. Our client is offering the business for sale to facilitate their retirement. Offers invited.
FREEHOLD
Offers are required by 5pm on Friday 24th April 2020. Long established personalised print company with UK wide educational sector clients. Over 30 years in the marketplace. Supply of personalised printed items/merchandise to UK educational organisati...
LEASEHOLD
Interested parties should be in a position to submit initial expressions of interest no later than 5pm on 17 April 2020. A unique opportunity to acquire a well-established designer and manufacturer of bespoke carpentry and joinery components.
LEASEHOLD
|
07
|
|
Apr
|
Treasury plan to save medium-sized businesses by taking emergency stakes | BUSINESS NEWS
The Treasury is understood to be considering user taxpayer m...
|
07
|
|
Apr
|
Clarks makes store closures and explores financing opportunities | COMMERCIAL PROPERTY
Footwear retailer Clarks has confirmed that it will close a ...
|
06
|
|
Apr
|
Cath Kidston set to enter administration | ADMINISTRATION
Clothing, accessories and homeware retailer Cath Kidston has...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources