CompanyNet acquired by London-based CTS
Scottish managed services provider CompanyNet has been acquired by London-based peer Core Technology Systems for an undisclosed sum.
ThinCats, the alternative provider to SMEs, provided significant funding to Core which said the acquisition strengthens its technical capability and provides geographic expansion into Scotland.
CompanyNet has 25 employees and offices in Edinburgh and Glasgow. Founded in 1996, thje Microsoft Gold partner delivers and supports Microsoft 365 and Azure solutions for organisations across the country.
The firm also offers managed services and modern workplace solutions to customers in sectors including financial services, food and drink, legal and the public sector including the NHS.
Andy Hamilton, CEO, CompanyNet, said: “We are pleased to confirm Core as our partner of choice, demonstrating the experience, values and expertise that ensures our business remains in excellent hands.
“As well as fitting with the broader CompanyNet strategy, we are delighted to have culture and values that align, and we are confident this agreement represents the best interests of our employees, customers, and partners, providing great opportunities for both parties.”
Conor Callanan, CEO, Core Technology Systems, commented: “We are focused on developing capability and excellent levels of service for our customers, and this acquisition means greater capability and additional resources.
“We have developed long-lasting relationships with our customers and partners because they trust in our delivery of service excellence, and this expansion provides an opportunity for us to add more value to our existing and new customers.”
Stuart Thompson, head of transitional capital, ThinCats, added: “CompanyNet is a perfect fit and will enable Core to expand its proposition and reach even more customers across the UK. It has been a pleasure working with Conor and Core’s expert team, and we are looking forward to seeing their continued growth.”
Funding for the acquisitions was provided by ThinCats (Stuart Thompson). Corporate finance and debt advisory services were provided to Core by Danescor (John Snead).