Somerset ICT services firm acquired after founding managing director retires
Growth plans are in place for AlexSys Communications following the sale of the Somerset ICT services company.
Founded in 1996 by Bridget Squance and based in Chewton Mendip, AlexSys’ service offering encompasses system design through to implementation and ongoing support and development for a range of businesses.
With Squance deciding to step down as managing director and retire, consultancy KBS Corporate was instructed to facilitate a sale of AlexSys.
The successful offer was made by Ferdinand De Lisser, who was seeking to return to the IT support sector in which he had been active previously.
He said: “It was the right size of company – not too small, not too big. I sold an IT support company six years ago and this is me getting back into that space.”
His aspirations for AlexSys are “organic as well as acquisitional growth”, with the focus on the company’s product set in cyber security.
The deal was led by Charles Needham, KBS Corporate transaction adviser.
He said: “It was important to ensure both sides of the acquisition were comfortable with the terms of the deal and a lot of advice was passed to both the vendor and the buyer.
“I advised our client against accepting a previous, less favourable offer and to explore the market further. I’m glad they took the advice because further down the line, we had two acquirers submitting competing bids for the business.
“While the sale took longer than the client had initially anticipated, I remained confident the business would be sold and reassured them we would achieve the right result.”
Jai Singh of London-based law firm Alston Asquith provided legal advice.
