AdEPT Technology Group Plc completes third acquisition in 12 months
Cripps Pemberton Greenish has advised AdEPT on its latest acquisition, the purchase of specialist IT services provider, Advanced Computer Services Group.
ACS Group has a strong public sector presence, including managing and supporting the IT function of approximately 200 schools and academy trusts. AdEPT is one of the UK’s leading independent providers of managed services for IT, connectivity, unified communications solutions and cloud services.
ACS Group and AdEPT have highly complementary product offerings as well as a well-matched customer base. This deal will support AdEPT’s existing IT managed services offering where AdEPT provides services to thousands of schools and academy trusts.
This latest acquisition is AdEPT’s third in 12 months and supports the company’s ambitious growth strategy. The acquisition was part funded through a £5 million extension of AdEPT’s pre-existing revolving credit facility, enlarging the total debt facility to £40 million.
Cripps Pemberton Greenish advised on the acquisition of ACS Group as well as the extension of the enabling credit facility. The project team, which included John Kirkwood and Juanne Jambaz (Corporate), Elizabeth Middleton (Tax) and Aleks Wulff (Finance), was led by Nigel Stanford.
Ian Fishwick, Chairman of AdEPT commented “We are delighted to have acquired ACS Group. The team at Cripps Pemberton Greenish understand our business strategy and working practices well having worked closely with us on multiple acquisitions. As ever, the advice they gave was timely and practical and allowed us to complete this acquisition successfully.”
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