Wake Smith Solicitors advised the shareholders of Systems Assurance Limited on the company's £0.9m acquisition by a national IT company.
CloudCoCo Group plc bought Sheffield-headquartered Systems Assurance Limited from Christopher Wheater and Simon Lewington as part of a strategic expansion plan.
The deal saw CloudCoCo take control of 28-year-old System Assurance Limited’s business operations, ensuring a smooth transition for the company’s long-standing and loyal customer base and staff.
The acquisition introduces a proven and scalable hardware engine into CloudCoCo's existing business as well as expanding its IT managed service offering increasing the firm’s customer base; plus cross-selling and upselling of its services increasing operational efficiency and margins.
A share placing of more than £2m by CloudCoCo will also help it to fund further acquisitions in the sector.
The Wake Smith team was led by corporate director John Baddeley with director Rebecca Robinson assisting.
John Baddeley, who acted for Systems Assurance Limited, added: “We are delighted to have acted for the shareholders of Systems Assurance on the disposal of the entire issues share capital to a well-established and reputable firm in the sector.
“A smooth handover of responsibilities for the business to its new owners will ensure continuity of the first-class supply of its services.”
Christopher Wheater from Systems Assurance Limited said: "I have seen Systems Assurance go from strength to strength and develop into a well-respected company. I’m confident that the CloudCoCo team will take the business to the next level. John Baddeley and his team at Wake Smith were efficient and professional taking us through the process with no fuss.”
Mark Halpin, Chief Executive of CloudCoCo, said the acquisition was a transformative step forwards for CloudCoCo and would see the company progress to the next stage in its development with a focus on scaling the business, while winning larger and longer contracts.
To discuss your corporate law requirements, contact John Baddeley at [email protected] or on 0114 266 6660.
Wake Smith advises IT firm on sale
Tags
Archive
April 20241March 20247February 20242January 20248December 20236November 20232October 20235September 20232August 20234July 20232June 20235May 20238March 20234February 20235January 20233December 20225November 20224October 20224September 20223August 20221June 20221May 20227April 20223March 20223February 20223January 20224December 20214November 20213October 20215September 20216August 20212July 202111June 20218May 20216April 20212March 20218February 20218January 20219December 20208November 202013October 20209September 20208August 20203July 20208June 202016May 202013April 20209March 202016February 20209January 202011December 20199November 20199October 201911September 20195August 20194July 20196May 20198April 20196March 20193February 20195January 20194December 20186November 20185October 20182September 20185August 20184July 20189June 20184May 201810April 20185March 20184February 20184January 20183December 20175November 20178October 20177September 20179August 20175July 20176June 201710May 20176April 20178March 201711February 20176January 201712December 20169November 20167October 201610September 201610August 20166July 20167June 20163May 20162April 20166March 20162February 20164January 20165December 20153November 20155October 20156September 20156August 20157July 20157June 20157May 20156April 20159March 20156February 201510January 20156December 20145November 20144October 20142September 20143May 20144March 20146February 20144January 20142December 20132November 20133September 20134July 20132June 20132May 20133April 20131March 20133February 20133January 20136December 20121November 20123October 20122August 20122July 20128June 20123April 20123March 20121January 20124December 20112November 20111October 20112September 20113August 20113July 20117June 20119May 20117April 20115March 20119February 20118January 20111December 20101October 20102September 20102August 20103July 20106June 20101May 20102April 20106March 20102February 20103January 20102December 20095November 20092October 20092September 20092August 20091July 20095June 20095May 20093April 20093March 20093February 20091January 20092November 20082October 20082September 20081August 20083July 20081January 20082
