– Highly successful provider of IT Support and Hosted Services company for IBM technologies.
– Based across the UK with its largest clients located in London, Birmingham and Glasgow.
– Projected turnover for the year to December 2016 is £1.1m with an adjusted EBITDA of £251k (23%).
– 11 clients on repeated IT support, infrastructure management, and managed services engagements.
– Out of a turnover of £1.4m in 2015, £351k was for IT support services.
– Out of forecast revenue of £1.1m in 2016, £451k is for IT support services.
– The company is quickly approaching the point where 50% of its IT support services revenue is recurring each month from long-term contracts.
– The remainder of clients currently buy blocks of days for IT support services at the start of each year and call these off for projects and support during the year.
– The business has a desirable client base of blue-chip companies and maintains exceptionally high client retention rates.
– The client base is mainly made up of businesses in the retail and finance sectors plus government services.
– The business would be of particular interest to other IT support, cloud services and/or telecoms companies that are looking for a strategic acquisition to add to their portfolio and could make significant synergy savings.
– Being an IBM Premier Business Partner in the social space; the acquisition of the company is likely to be of particular interest to other IBM partners globally or a Microsoft partner looking to diversify.
– There is a strong team of qualified technical staff in place.
– The company has excellent cloud based financial management systems in place.
Products and Services
– IT Support Services:
24/7 Support and Systems Management
Desk side or on-site support
IT co-sourcing and outsourcing
– Managed Services:
Hosted virtual servers
Managed data back-up
Virtual Disaster Recovery
– Software development
Integration, development and support of IBM Collaboration solutions
- 2 Directors, with 3 full-time and 1 part-time members of technical staff.
- Rented office - lease on 1 months’ notice.
Reason for sale
- The vendors are pleased to have built the business to its current size and profitability. However, each Director also has 2 other business interests and have taken the decision to exit this business to focus on those other interests now this business has a very solid foundation and platform from which to grow.
Year ending 31st Dec 2016 (Forecast):
Sales Revenue £1,085,373
Gross profit £512,022 (47%)
Adjusted EBITDA £251,589 (23%)
– Adjusted EBITDA is stated after having accounted for the vendors’ replacement cost.
Is this business relocatable: Yes
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