Sell my IT and Software Business

IBIT Solutions Ltd

Coventry-based IT company IBIT Solutions has been sold to Techsol Group in a deal overseen by KBS Corporate.

IBIT is a complete IT and network solutions company, offering full support and installation services for businesses of all sizes.

Kevin Lawless founded IBIT in 2005, building a reputation for providing high-quality IT services comprising cybersecurity, hosting, broadband and connectivity support and VOIP phone systems.

Techsol Group’s origins were as Micross Apps, a software development house founded in South Wales in 1996, with a 2012 acquisition broadening its geographical reach to Cornwall.

Further expansion has subsequently taken place across the South West of England and now the acquisition of IBIT has established a base for Techsol in the Midlands, enabling the digital transformation company to offer a more diverse service offering to its customer base across the region.

Simone Lawless, Director of IBIT Solutions, said: “We are delighted to have completed this union between ourselves and Techsol Group – in whom we have found a partner who shares our determination to provide service excellence to our clients but who can also add scale and reach both in terms of resource, geography and technical practice groups.

“This partnership will allow us to expand our combined operations and offer more products and services to both existing and new clients.

“We are truly excited to have the opportunity to work alongside the Techsol Group team and be guided by them over the coming months and years.”

Luke Rae, KBS Corporate Deal Executive, who negotiated the sale, said: “It was a complex and challenging process and I’m delighted to have supported Simone to bring it to a successful conclusion.

“IBIT has truly found a great new home and will continue to offer a truly fabulous service to both existing and new clients alike.”

Gavin Morgan, Managing Director of Techsol Group, which now employs more than 40 staff in England and Wales, added: “We are very excited about this new chapter. We look forward to growing our new Coventry base and providing our customers with the best possible service and solutions.”

Monochrome Consultancy Ltd

Monochrome Consultancy Ltd has been sold to a leading digital transformation services provider with the assistance of Matthew Sibley, Associate Director at KBS Corporate.

In 2017, Hampshire-based Monochrome was founded to become the trusted delivery partner of national customers for IT, projects and complex change consultancy solutions.

Over the last six years, the business has achieved considerable year-on-year growth and is well regarded in the IT and cyber security markets.

Monochrome Director Dan Wright aimed to find a buyer who would accelerate the company’s growth and also value the Monochrome team.

The company generated significant international interest in the consultancy M&A space, owing to Dan’s passion for Monochrome.

Matthew Sibley advised: “It was a great process — Dan is an exceptionally well-organised professional that drives the business forward. He was focused and very amenable in discussions with interested parties.”

The company is now part of Kerv Group, a growing organisation specialising in collaboration, transformation and digital evolution.

Kerv has grown exponentially throughout its time in operation and is now partnered with global organisations such as Microsoft, Citrix and Genesys.

“This sale is a great example of when you find a synergy buyer for a company that sees the value and potential in it,” said Matthew.

“Kerv could see this was more than just geographical expansion and a larger client portfolio. It was a chance to bring Dan and his team into the group and really enhance the wider offering.”

Dan Wright is excited to work alongside Kerv and commended Matthew’s role throughout the transaction.

“This acquisition presents us all with a great opportunity,” said Dan. “The Kerv senior management team and I share close values and culture, which means that it feels like the right place to be.

“Matthew introduced us and had it not been for this, I would not have found Monochrome’s new home. He was great to work with and quick to support me whenever I needed advice, which definitely helped as this was my first time selling a company.”

Dan Wright will continue as Managing Director of Monochrome, which now acts as the consultancy practice within Kerv Group. To learn more, please visit www.monochromeconsultancy.co.uk or www.kerv.com.

Stellarise Ltd

Will Griffiths, KBS Corporate Deal Executive, has overseen the sale of Cloud computing specialist Stellarise Ltd to Velocity Managed Services.

Based in London, Stellarise offers a range of IT and technology solutions encompassing cybersecurity through to hardware supply, with access to over 30 technical staff across multiple disciplines.

The company has now been taken under the wing of the Velocity Technology Group, which was founded in 2003 and is headquartered just outside Denver, Colorado.

In 2022, Velocity took steps to expand into the UK and European markets and after what it described as “an extensive search”, it has acquired 100% of Stellarise.

“We spent countless hours looking for potential companies to acquire that would add more critical mass from a customer and skills perspective,” said a Velocity spokesperson.

KBS Corporate was able to help Velocity reach its acquisition goal, with their spokesperson adding: “We are excited to add 30 new customers to our Velocity Technology Group family and can’t wait to start adding value to our 330+ customers across the group with our joint solutions offering.”

Regarding the M&A market appeal of Stellarise, Will Griffiths said: “It was certainly an attractive opportunity. The business has the unique capability of offering a full reporting system to its clients, which is fully scalable to meet the requirements of clients of all sizes.

“The business had also developed its own IP, which is used to ensure the safety of clients’ email databases and is unique to the industry.

“The client was very competent and great to work with.”

Will also praised the services provided by sell-side solicitor Ison Harrison, describing Victoria Boid’s work as “exceptional”.

Velocity is confident that bringing Stellarise under its umbrella is a sizeable step in its expansion plans having already successfully onboarded many new customers across the UK, Europe and Middle East.

“We believe this acquisition will support our customer mission and significantly enhance our ability to deliver on it,” said the Velocity spokesperson.

“Stellarise believes the right technology will grow your business, make it stronger and turn your vision into reality.

“The goal at Stellarise is to provide businesses with the strategy and resources they need to make informed, timely and scalable decisions that help their business growth in an ever-changing corporate environment.”