KBS Corporate Oversees Sale of Allteks Limited
Allteks Limited, a Kent-based IT support and infrastructure specialist, has been acquired by Conehill Limited.
Services offered include IT support, infrastructure management, network monitoring, servers and storage, disaster recovery, cloud storage, cloud migration, hosting and managed IT services. Allteks also provides PeaceGuard, a dedicated online backup service that includes a comprehensive range of security, reporting and data recovery functionalities.
Having been in operation for over 15 years, Allteks has developed a loyal client base of circa 100 active accounts throughout the Midlands and South East of England. The Company’s clients mainly fall within the marine, construction, pharmaceutical, recruitment, publishing, energy and manufacturing sectors.
The shareholders of Allteks approached KBS Corporate with intentions of offering the Company for sale in order to pursue different interests, and facilitate further growth and development of the business. Allteks’ Technical Director, Ian Butcher, stated his desire to remain within the Company for the foreseeable future in order to ensure a smooth transition.
Widespread interest was generated in relation to the opportunity to acquire Allteks, with over 30 interested parties (consisting of mainly trade buyers, with some expressions of interest from UK private equity and venture capital firms) signing NDAs to learn more about the business. After four offers for the Company, an offer from Conehill was finally negotiated and accepted.
Conehill was recently set up by private investor, Toyin Aromire, as a tool to acquire Allteks and other companies in the future. Toyin’s motivations to acquire Allteks were centred around his plans to develop and grow the company as a personal business venture.
The deal was managed by Deal Executive, Fabio Rambelli, who commented, “The marketing of Allteks was extremely successful and we were able to secure four offers in close succession. I believe that Allteks accepted the most competitive offer available, allowing Ian Butcher to continue working within the business and driving its growth. Allteks is in great hands with Ian and the new owners, and I wish all parties the best of luck going forward.”