PE deal fuels firms vision to become £100m distributor
Private equity investor Chiltern Capital has acquired a Birmingham IT services distributor, as it looks to be a £100m business.
Orbis Partners advised Intec Microsystems on its sale to Chiltern Capital and its management team. The deal will see previous majority shareholder and founder, Dean Leather stepping down from his role and the business will continue to be run by its existing directors Andy Russell, Ian Whatton, John Lester and Stuart Hall.
Alan Cantwell will join the Board to oversee Intec Microsystems’ next phase of growth.
Founded in 2003, Intec employs around 100 people and offers a range of products, including laptops, desktops, servers, storage, networking and tech accessories from leading global manufacturers and challenger brands.
Leather said: “Having founded Intec 20 years ago and seen it deliver fantastic growth over that period, now is the time to pass on the baton.
“I know that with Alan and Chiltern providing additional support to the highly capable team in the business I’m leaving Intec in great hands and with people who will take the company to the next level.”
Cantwell, who has worked in the IT distribution channel for more than 40 years said Intec doesn’t, “want to be the best-kept secret anymore. We work with some amazing challenger vendors and we’re moving up the value chain.
“Our goal is to deliver growth by working in close collaboration with our vendors and expanding our product and service offering to best serve our customers”.
Joe Bennett, investment director at Chiltern Capital revealed: “Intec is a company we’ve admired for a long time. It has delivered impressive growth in recent years, and we are confident that, with the combination of the existing management team supported by Alan’s deep sector experience, the business is well positioned for the future.
“At Chiltern, we want to back businesses who are well established in their market place and highly regarded by their customers and suppliers, and Intec ticks those boxes.”
Shareholders were advised by Orbis Partners and Mezzle Law.
Chiltern Capital was advised by Marriot Harrison (Legal), James Cowper Kreston (FDD) and CIL (CDD).
Management was advised by Quercus International (Advisory) and Addleshaw Goddard (Legal)
