La Salle advise IT support firm on sale to PE-backed Perfect Image
La Salle are delighted to have advised business IT support specialist Technique Limited on the sale of the company to Newcastle-upon-Tyne-based Perfect Image, part of Cybit who are backed by Chiltern Capital.
Overview:
Thatcham-based Technique Limited is an engineer-led, business IT support company, only employing qualified IT support engineers with excellent technical backgrounds.
Co-owners Rob Samuels and Jonathan Prince instructed La Salle Corporate to assist with the sale of the company. A research exercise commenced, and this process helped identify the ideal acquirer for the company and suit the requirements of Rob and Jonathan.. Confidential off-market approaches were made, and a shortlist of bidders was formulated.
Backed by Chiltern Capital, Cybit, the parent owners of Newcastle-based IT solutions provider Perfect Image, expressed strong interest in their pursuit to establish a foothold in the South of England and a satisfactory deal was agreed and subsequently completed in March 2022.
Matt Dillon, Partner at La Salle Corporate said:
“Rob and John have created a fantastic business which they have provided unrivalled service to their clients. After 24 years of running the company, it was time for them to move on. It has been a real pleasure working with them and we are delighted with the end result. I wish Pixel all the best with the future of Technique”.
Cybit Chairman Tom Kelly added:
“The acquisition of Technique is a clear statement of intent and a strong indicator of our ambition to create one of the leading IT Managed Services and Data Analytics Providers in the UK. The entrepreneurial flair and talent we have inherited through the acquisition is impressive and I can’t wait to start working with them as we look to grow and scale to the next level.”
“This move significantly bolsters our geographic presence across the UK, further accelerating our expansion plans and driving new market opportunities. We are fully committed to our growth strategy with future acquisitions and brand investment in the pipeline. Watch this space.”
Kelly Simkiss, Cybit CEO commented:
“The acquisition of Technique is an ideal fit for our group brand strategy. The addition will create a powerful proposition to deliver secure end-to-end IT managed services to mid-market organisations across the UK. We see significant opportunities ahead for organic growth as we take advantage of the cross-selling and up-selling opportunities within each customer base. I see exciting times ahead and I look forward to working with the Technique team moving forward.”
Company Profiles:
Technique Limited – Thatcham, Berkshire UK
Technique have been providing day to day IT support, network services, and project-based IT consultancy to organisations since their incorporation in 1998. They have grown to help hundreds of businesses, across a wide range of sectors both in the UK and internationally, get the most from their IT.
Perfect Image Ltd – Newcastle upon Tyne, UK
Perfect Image Limited is an IT services and data analytics provider that designs, develops, and delivers end-to-end cloud-based IT solutions for UK mid-market customers including Bellway Homes, NUFC, Northumbria Police, Middlesbrough Council, and Formica, helping support their digital transformations and enhanced business efficiency needs.
Cybit (Formerly known as Pixel Group)
Backed by Chiltern Capital, Cybit are an IT & Cyber Security Managed Services business that owns the brands Perfect Image and Cyphra and provides the following services to its customers:
• IT Managed Services
• Data Analytics
• Cyber Security Solutions
• Security Managed Services
• Professional Services
Deal Advisors:
Sell Side - Technique Limited:
La Salle Corporate (Matt Dillon) – Corporate Finance
Addleshaw Goddard (Richard Hunt, Aidan Barry) – Legals
Buy Side - Perfect Image:
Marriott Harrison (Jonathan Leigh-Hunt, Troy Featherstone) - Legals
Azets (Dan Nixon, Daniel Jonas) – FDD
CIL (Anthony Crutchett) – Commercial DD
Read more about this deal around the web:
(La Salle have no control over media on external links)
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