Shrewsbury firms support £3.9m takeover of Telford IT specialist
Shropshire accountants and lawyers were called in to support the takeover of a fellow county business in a £3.9 million deal.
The teams from Dyke Yaxley Chartered Accountants and Aaron & Partners solicitors, both in Shrewsbury, helped secure the sale of Telford-based Rockford IT to SysGroup.
This deal marks SysGroup’s sixth acquisition in the last three years, and will allow Rockford to take on global projects.
Dyke Yaxley’s lead corporate finance adviser Mark Bramall was supported by colleagues Pam Mason and Sarah Hartshorn to identify a select group of potential buyers.
Mr Bramall said: “We then marketed the business through our corporate finance network links and led initial negotiations to broker a deal, while working alongside Aaron & Partners at all times to complete due diligence and all the necessary documentation through to the completion of the takeover.
“This was an excellent example of specialists in their fields coming together to complete a transaction that has resulted in Rockford IT being bought by one of the UK’s fastest growing managed IT services and cloud hosting providers.”
Rockford chief executive Tom Sykes said: “This is an exciting opportunity for Rockford to become part of a team that is providing first class IT managed services, particularly in cloud hosting and the security sector.
"With a shared vision and support from SysGroup, the Rockford team will be committed to growing with the company and working with some of the world’s biggest organisations.”
Hugh Strickland is a Partner in Aaron & Partners’ Corporate Finance team, and said: “We’re delighted to have been able to play a role in such an important deal both for Tom and the Rockford IT team, and for the business community in Telford as a whole.”
