Private equity firm to buy technology group for £223m

Private equity firm Montagu has agreed to buy listed Sheffield technology firm Servelec for £223.9m. Servelec, which announced in September a return to profit for the first half of this year - just over 12 months on from issuing a profit warning and seeing a shares slump - provides software, hardware and services to the healthcare, social care and education, oil and gas, energy and utilities sectors. The company, which was founded in 1977, was valued at £122m when it listed on the London Stock Exchange’s main market in 2013.... For the full story register now for free or login below...
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