KBS Corporate Advises on the sale of JSPC Computer Services Limited
JSPC Computer Services Limited is an independent provider of specialist IT solutions to schools, academies and businesses throughout London and the South East. The company has experienced considerable growth since being established in 2002. JSPC benefits from a large client base, the majority of which provide reliable repeat revenue.
The majority shareholders, James and Shelley Stoner approached KBS Corporate with the sale of their business in order to pursue other interests and spend more time with their family. During initial discussions it became clear that the shareholders were keen to find a buyer that would be a responsible owner moving forward and able to create opportunity for the staff. This enabled KBS Corporate to implement a research strategy with a primary focus on UK and European trade buyers. KBS Corporate’s extensive M&A knowledge also highlighted the need to pursue PE backed buyers due to the increase of consolidation in the IT sector and lots of PE backed companies looking for bolt on opportunities. This research strategy allowed KBS Corporate to generate 30 interested parties.
The successful multimillion-pound offer came from Virtual IT. Established in 2001, Virtual IT is renowned for its high-quality corporate IT infrastructure and service to the SME sector. The company is based in North West London. Virtual IT is one of the pre-eminent Managed Services Providers in the South of England supporting over 10,000 users for their IT and security, delivering a broad range of cloud, hybrid cloud, cyber security, vulnerability testing and support solutions, bringing together the best technology sets to address our client’s ever changing requirements. Virtual IT’s Managing Director, David Sonmen, is highly experienced within the technology sector having previously founded and managed two other highly successful technology companies. The acquisition of JSPC will enable Virtual IT to build and grow an IT support and managed services group.
KBS Corporate Associate Corporate Director, Tom Eatough, advised JSPC throughout the process.