We Sold Coretek Group to Cobweb – Insights and Updates from the Seller and Buyer
In March 2025 we helped Garry and Allison Miller complete on the sale of their IT services business, Coretek Group, to a larger MSP called Cobweb as part of an acquisition growth strategy. Less than a year on, we are pleased to share some interesting insights and very positive updates from three people involved in the deal.
Garry Miller
Former Co-Owner of Coretek Group
Left the business after the sale
Questions we asked Garry: As the former owner, how was the sale process for you? Were there any lessons learned that you might be able to share with other owner-managers considering selling their business?
When I reflect on the journey of selling my business, a venture I poured 25 years of my life into, the overriding lesson I learned is the absolute necessity of expert guidance and a committed internal team. I can state unequivocally that achieving a positive and successful sale would have been impossible without the dedicated support of the Prism team and the truly diligent work of one of my key members of staff.
The process began long before the actual sale, and it was the clear, strategic advice from Peter at Prism that proved invaluable. His insights, shared even in the very early stages of consideration, were instrumental in helping me strategically position the company for the most favourable outcome. We focused on two critical areas: securing long-term, sustainable client contracts and, crucially, simplifying our somewhat complex service offerings. This proactive streamlining significantly de-risked the business in the eyes of potential buyers and unquestionably smoothed the entire sale process, making the company a far more attractive acquisition target.
A key factor in mitigating the immense personal pressure of a sale was the early implementation of a company EMI (Enterprise Management Incentive) scheme. I had strongly encouraged my key employees to participate, and I now have a profound appreciation for the positive impact this had on the sales process. My core team members were not merely employees; they had a vested, financial interest in securing a good deal. This alignment meant that they actively engaged in the process, providing many of the detailed answers and documentation that are required, especially during the exhaustive and stressful due diligence stages. Their participation took a significant, thankless weight off my shoulders, allowing me to focus on the high-level negotiations.
Despite the successful outcome and the clear logic of the decision, the sale of a business that was, in many ways, an extension of my identity for over two decades has naturally been accompanied by a degree of anxiety. To some extent, I still share some feelings of uncertainty about whether selling the business I spent 25 years building was the right choice. However, that energy and drive, which fuelled the previous business, is now being positively channelled into two new, exciting family businesses. This new chapter provides a renewed sense of purpose and a fresh opportunity to apply the lessons learned throughout the sale process.
Will Carter
Former MD of Coretek Group
Involved in the sale and stayed, now Head of Compliance & Insights at Cobweb
Questions we asked Will: Can you describe how things have changed upon acquisition? What was the reaction by staff and how has it impacted them? How was the sale process for you personally?
When we first thought about selling Coretek, we had to consider how it would affect our team and our customers. We wanted to ensure the team had somewhere to fit in post-acquisition, and our customers expect a level of expertise, care, and exceptional service from us, which we wanted to continue to deliver. The first meeting with Cobweb was excellent – the synergy was great, and the immediate impression was that the team would fit in, and our customers would be treated well. I met with Cobweb a few times throughout the acquisition process, and I was confident and trusted this would be a positive move.
When we told the Coretek team about the sale, of course everyone was initially concerned about how this would affect them and their future. At first, we continued to operate Coretek separately without making any changes, to allow the Cobweb team to fully understand how we did things. We physically moved into the Cobweb office so the teams could get to know each other too. Within 6 months, we made the decision to merge the business fully as we believed that as one team, it was the best way forward and would produce the greatest opportunities for everyone. All the Coretek staff have found their place in Cobweb, and each of them has become an integral part of the new team. Following the merger, the customers are starting to see the benefits too, as we can now offer more services, more efficiently, to all our customers.
For me, the sale process was intense – I hadn’t ever done anything like this before, so I didn’t know what to expect, but it took a lot of energy to run the business at the same time! Fortunately, it’s clear that it was worth it, and going through with the sale was the right thing to do.
Neil Bond
Director of Cobweb
Involved in the acquisition of Coretek
Questions we asked Neil: As the acquirer, how did the acquisition meet your objectives? Were there any lessons learnt? Are you still on the acquisition trail?
From the initial contact with Prism and Coretek it was clear that there were great synergies to be made from combining the businesses. For both businesses, it offered the opportunity to expand staff skill sets and give customers access to an expanded range of offerings.
This was Cobweb’s first acquisition, having previously focused on organic growth and then disposal of two subsidiaries, Prism were instrumental in making the process as smooth as possible. This enabled a very short purchase cycle with the deal completed within a few months. The due diligence process was dealt with in a highly professional and prompt manner which assisted the quick conclusion.
I am pleased to say that the acquisition of Coretek has exceeded our expectations with the integration of the two businesses being smooth and yielding benefits quickly. It was key for us that all staff understood and saw the synergies. To this end the Coretek team moved to Cobweb’s existing office quickly and in a very short time we were operating as a single business. This shows how important it is to have a correct match between the business’s cultures.
Customers too appear to have embraced the change with several opportunities from both business’s customers for the increased range of services.
Given the success of our acquisition of Coretek, we continue to look for opportunities for further acquisitions.