IT services business completes seven figure MBO
IT support company Deans Computer Services (DCS) has completed a seven figure MBO.
Launched in 1982, DCS employs 40 people at its headquarters in Boston Spa and provides IT-related products and services for SMEs.
As a Microsoft Midmarket Solution provider, it supplies, installs and supports hardware, applications software, telecoms, WAN and print solutions, server and PC security and cloud solutions. Its software support team specialises in providing expert advice and guidance about accounting software such as Pegasus Opera, Exchequer and Sage 50, together with a development team that handles CRM, service management packages and bespoke software.
The £3m turnover company’s diverse client base includes Clipper Group Leeds, The Caddick Group, Harewood House and Huddersfield Town Football Club.
The MBO team that will now lead the business comprises managing director Patrick Clayton, marketing director Suzanne Cowling and software director Sandra Marshall. In addition, Chris Lord has been appointed as technical director.
Mr Clayton said: “Over the last 30 years, DCS has established a strong reputation in its field based on outstanding customer care and we aim to build on this and cement our position as one of the leading independent accounting software and IT support companies in the North. This acquisition marks another key milestone in the development of the business and we plan to make it a seamless transition for both clients and staff.”
The seven figure deal, advised by Grant Thornton, will see the firm’s founders Peter Rogerson, Peter Lichtarowicz and Malcolm Rogerson hand over their stakes in the business to the company’s experienced management team. Peter Rogerson will continue in his role as chairman of the new company with Andrew Tones retaining a directorship.
Fletcher Adamowicz from Grant Thornton’s transaction tax team in Leeds assisted management in structuring the transaction, with legal support from Steel & Co Solicitors.
Chairman Peter Rogerson said: “This deal opens a new chapter for DCS, but ensures that for our customers it is very much business as usual. The people who have been running the firm for some years now have a stake in its future success, and that is the way it should be. Although the founders have handed over our stakes in the business, we remain involved and we hope that we can support the new owners to continue the success story we started in the 1980s.”
Mr Adamowicz added: “The founders of DCS have grown a solid and highly reputable Yorkshire business over more than three decades, essentially since the very start of the IT industry in the UK. The management and founders have been able to structure a deal that rewards the exiting shareholders’ efforts over 30 years and provides continuity that will enable the business to evolve, continue to invest and grow in the future – and that’s great for staff and customers alike.”
