KBS Corporate advises on the sale of MWL Systems
Microcomputer Workshop Limited, trading as MWL Systems, provide a variety of IT services and support. Services include consultancy, support, cloud and software solutions and infrastructure and hardware support. The company holds Microsoft Azure and Microsoft Gold Partner accreditation.
MWL Systems instructed KBS Corporate with the sale of their business and a detailed research strategy was pursued. The primary focus became Private Equity and trade buyers which generated 30 interested parties coming forward and 4 offers being received. The majority of interest came from existing trade within the IT and telecoms companies.
The successful offer was made by Elite Group, which is their 17th acquisition since 2008. The company has benefitted from a funding package, of £30m, from Lloyds Bank in order to support growth through acquisition with the target being set at a £100m annual turnover by 2021.
Rob Sims, Elite CEO, commented on the deal, “Our current plans are to take us up to a £100m business with the majority of that coming from mobility and IT.
“But the big step jumps will be from acquisitions and we look forward to making more. Companies such as MWL give our customers new services and it’s that value adding factor that we look for in acquisitions.”
The deal was overseen by KBS Corporate Associate Corporate Director, Tom Eatough, who added “I am really pleased that we managed to secure a deal with Elite Group that enables the retirement of the founding shareholders of MWL. MWL is a fantastic company and will be a great addition to Elite as they continue to progress their ambitious growth plans. I would like to wish our clients and Elite all the best for the future.”