Deal creates 250-employee firm
ECS Group offloads cybersecurity business in MBO
The MBO of newly-named Adarma has been led by David Calder, pictured, and Nathan Dornbrook, with support from private equity investor Livingbridge and debt from Bank of Scotland. It creates a business based in Fountainbridge, Edinburgh with 250 employees and sales to the end of 2017 of £26.3m. Terms of the deal were not disclosed.
From launch, Adarma has an extensive client roster that includes market leading brands owned by FTSE 250 organisations. Its 20 largest clients have a combined annual turnover in excess of £150bn and use Adarma’s expertise to help protect sensitive data covering over half of the UK population.
ECS Group, based in Haymarket, Edinburgh, was founded in 2008. Paul Thomson, chief executive, said: “Over the last six years ECS’s security business has grown rapidly within the group into a truly industry-leading provider of cybersecurity services.
“This also enables us to expand our core offerings and expertise in digital transformation in our key markets, namely enterprise IT infrastructure and public cloud, as well as investing heavily to build out other areas of the business.”
Mr Calder, managing director at Adarma, said: “Our decision to create Adarma is part of our desire to focus exclusively on the security space with the aim of becoming the UK market leader for FTSE 250 organisations across a broad range of industries
“We are thrilled to receive backing from Livingbridge as we start this new chapter in our journey.”