Swiss company swoops for £16m turnover business
Contract rescue and renewal management specialists Support Warehouse has been acquired by Swiss-based Annuity Management AG (AMAG) Group in a significant multi-million-pound deal.
Over the last 17 years, Support Warehouse, which is based in Ilkley, has worked in close co-operation with HPE to establish itself as a leading specialist for contract rescue management, with turnover in excess of £16m from 9,500 end-user customers operating in 11 countries
Based in Wallisellen, Switzerland, AMAG specialises in revenue life cycle management and customer success management solutions for technology manufacturers. Together with its subsidiary Tesedi, AMAG can now offer its customers an end-to-end service for the management, renewal and recovery of service and maintenance contracts, operating across 15 countries.
Matthias Knaur, CEO and founder of AMAG, said: “I am delighted. By combining the strengths, expertise and the geographic reach of Tesedi and Support Warehouse, we are now able to offer HPE an end-to-end service across all of its areas of renewal management in 15 countries.”
Chris Brooks, founder and CEO of Support Warehouse, added “We are very pleased to have found the ideal partner for our succession. The two companies are a perfect match when it comes to managing HPE Pointnext services.”
A team of Yorkshire-based advisers from Sentio Partners (lead adviser), Gordons (legal) and Murray Harcourt (tax) supported the shareholders on the transaction.
Andrew Barlow and Dave Irwin of Sentio acted as lead advisers to the shareholders. Barlow said: “The acquisition is a fitting reward for Chris and Adrian, who have built an outstanding business with significant potential for future growth. AMAG are the perfect strategic partner for the business, and share the culture and the values of the founding shareholders.”
James Fawcett, head of corporate at Gordons, added: “We have worked with Support Warehouse since it was set up 17 years ago. It has been a pleasure to watch the business develop and to support Chris, Adrian and Support Warehouse through this transaction. “
