US giant buys £26m turnover IT firm
A GLOBAL technology distributor has bought Comms-care, a Cheshire-based provider of outsourced IT services for an undisclosed sum.
Ingram Micro, which is listed on the New York Stock Exchange and is ranked 62nd in the Fortune 500 list of the US’ biggest companies, has bought Comms-care, which has its headquarters in Northwich.
The business said the acquisition would bolster its range of services to its global customer base.
Comms-care, which was founded in 2002 and has 225 staff, provides IT support and maintenance to around 850 IT resellers, distributors and vendors across the UK, Ireland and Europe.
It has enjoyed significant organic growth over the years and in 2014 expanded further with the acquisition of Runcorn-based Platform Consultancy Services.
The company saw a 33% increase in turnover to £26.1m in the financial year to the end of march 2015, with operating profits of £3.4m.
Comms-care’s major shareholders – chairman Peter Lloyd, managing director Ben Davies and technical director Darren Briscoe – bought the business in 2010 in a management buyout.
Following the sale to Ingram Micro, the business will continue to trade as Comms-care and the shareholders will remain in their posts to steer its future growth.
Ben Davies said: “Ingram Micro provides us with the perfect platform to achieve our objectives of growing our business and helping our partners achieve more.
“Ingram Micro’s broad geographic reach and sterling reputation with vendor and customer partners throughout the world will enable us to expand our coverage into new regions and broaden our offerings to channel partners. We are pleased to join such a global leader.”
Ingram Micro, which has its headquarters in Irvine, California, has 27,000 employees and operates 122 distribution centres worldwide. It has customers in 160 countries and posted global revenues of $46.5bn in 2014.
The firm, founded in 1979, recently agreed a $6bn sale to Tianjin Tianhai, a Chinese shipping group.
Ingram Micro will become a subsidiary of HNA Group, an air transport and logistics company based in Hainan, which owns Tianjin Tianhai. The takeover is expected to close in the second half of this year.
Brent McCarty, Ingram Micro vice-president and chief country executive for the UK, said: “The addition of Comms-care supports our strategy to expand our global capabilities and expertise in fast-growing, high-value markets.”
Nigel Barratt and Ben Bradley, of HURST Corporate Finance, and Rachel Murphy and James Thompson of HURST’s tax team advised Comms-care’s shareholders on the deal.
Barratt said: “We have advised Comms-care on compliance and strategy for a decade and assisted with the 2010 management buyout and the acquisition of Platform Consultancy Services. Comms-care is a tremendously successful business which is assured of a strong future as part of Ingram Micro.”
David Paterson and Alex Hall, of Leeds firm Blacks Solicitors, provided legal advice.
