Recent acquisitions of information technology services firms include a York, England-based firm that was acquired in a private equity-funded management buyout and the acquisition by an Ohio-based IT services firm of a U.K. company.
Trustmarque Solutions, a York, England-based information technology services firm, announced a management buyout for £43.0 million (US$67.0 million) with the backing of private equity firm Dunedin LLP. Trustmarque was owned by LDC, a private equity division of Lloyds Banking Group
Trustmarque’s clients include public sector and private organizations across the U.K. It had revenue for more than £130.0 million in its fiscal year ended Aug. 31, 2012.
The company evolved from an IT reseller in an IT services firm with its headcount rising to 180 in 2011 from 110 in 2009, according to LDC.
“We are pleased to be investing in Trustmarque, a highly successful market leader with a clearly positioned brand and an exceptional reputation within both the commercial and public sectors,” said Mark Ligertwood, a partner at Dunedin. “The U.K. market for software and IT services is currently worth an estimated £40 billion and is expected to grow at 2 percent to 5 percent to 2016. The U.K.’s IT market is second only in size to that of the US and Japan and the growth opportunities are significant as private and public organizations invest in the latest products to increase business efficiency.”
Separately, IT services firm Oxford Consulting Group expanded its European footprint with the acquisition of Chase Consultancy Limited, an IT services firm located in Fareham, England. Oxford established its U.K. presence earlier this year with an office in Belfast, Northern Ireland.
The acquisition closed June 1, and the organization will be known as Chase Consultancy, an Oxford Consulting Group Company, while the two companies complete the integration process.
Chase Consultancy is an IT services firm and IBM Premier Business Partner targeting electronic data Interchange and business-to-business integration.
“We are thrilled about the acquisition of Chase Consultancy, as the merger advances our mission of becoming a top IBM Smarter Commerce solutions provider in the U.S. and U.K.,” said Michelle Kerr, president of Oxford Consulting Group. “We are bringing together two leading companies focused on providing high-value solutions for B2B integration and e-commerce, along with a sincere dedication to the success of our clients.”
Oxford Consulting Group, based in Westerville, Ohio, provides IT staffing, solutions and outsourcing.