Trinity and Eurodata liberated from admin by Liberata

COVENTRY IT provider Trinity Expert Systems and Eurodata Systems has been acquired out of administration by London business process outsourcing firm Liberata.

No monetary value has been put on the deal.

Matthew Cowlishaw, Dominic Wong, and Paul Meadows from the business advisory firm Deloitte in Birmingham were appointed joint administrators of Trinity Expert Systems, Eurodata Systems and TES Group last Thursday (October 10).

Following a period of marketing, the administrators from Deloitte achieved the sale of the associated business, trade and assets to the Liberata group the same day, including around 340 employees who were all transferred across to the new business.

The business is being recapitalised with £5m investment and working capital facilities from Liberata, which is majority owned by the investment house Endless.

The group had suffered cash flow difficulties as a result of investment in its cloud capabilities and the integration of Eurodata Systems, which it acquired in June 2011.

Dermot Joyce, CEO of Liberata, said: “Trinity has invested heavily in product and service innovations, with strong cloud offerings through its desktop as a service (DaaS) andiInfrastructure as a service (IaaS) solutions. These perfectly complement Liberata’s unique business process as asService (BPaaS) platform. 

“Our combined capability is well placed for growth.”

Deloitte’s Cowlishaw said: “The group’s underlying business is sound with a strong customer offering and future potential. It therefore attracted a large amount of interest from both private equity and trade buyers during the sales process. 

“The sale secures the future of the business, its employees and provides the best outcome for creditors.”

DLA Piper partner Huw Dolphin provided legal support to the administrators for the sale.