KBS Corporate Completes the Sale of Wavehill IT Solutions Limited
Wavehill IT Solutions Limited provides IT skills and knowledge to SMEs in the Greater London area. The company was established in 2001 and has developed strong client relationships with approximately 64% of whom have monthly contracts for IT support.
Wavehill IT Solutions Limited’s three shareholders, David Barker, Richard Brooks and Mark Willis, approached KBS Corporate with the sale of their business in order to enable the retirement of the latter two.
During initial discussions it became apparent that retention of the current staff and existing operations were highly important to the shareholders. This shaped KBS Corporate’s research strategy resulting in a primary focus on trade buyers. The opportunity attracted 101 interested parties with impressive levels of interest coming from UK trade buyers, which remained prevalent throughout the process. KBS Corporate was able to utilise this interest to produce four competing offers.
The successful offer came from Network Communications Group. The group has a global presence operating within Europe and Asia as well as benefiting from a blue-chip client base.
Matthew Sibley, Corporate Deal Executive at KBS Corporate, advised Wavehill IT Solutions Limited throughout the process.