Business logos. TMB sold to Fifosys.

Prism Facilitate Sale of Managed IT Services Provider

We are please to announce that the Prism Team have facilitated the sale of Technology Means Business Ltd, a managed IT services provider, to Fifosys Ltd, an award-winning MSP delivering strategic technology support and cyber security services.

Technology Means Business Ltd (TMB) has been providing companies with professional IT support and services for more than 30 years. They work with SMEs mainly throughout the East, South-East and London, delivering a full suite of services including managed IT support, cloud services, cyber security and telecoms. They are also an award-winning reseller of Pegasus software and offer bespoke software development services. TMB has offices in Hampshire, London, Essex and Kent.

Fifosys Ltd is an award-winning managed services provider offering comprehensive and strategic IT services and solutions to SMEs and mid-market organisations. Focused initially on the London area, Fifosys has completed three acquisitions in five years, with 2021’s acquisition of a Birmingham-based MSP their first outside of the region. This latest acquisition of TMB continues their growth strategy by adding significant further reach around the UK while expanding the service offerings and expertise available to the newly combined client base.

Prism Corporate Broking (Prism) have been helping people to buy and sell businesses for 20 years and are experts in the tech sector. The Prism team supported TMB’s two co-owners throughout the whole sale process, from pre-sale preparation and identifying potential acquirers, through negotiations to the successful deal completion.

Tina Verney, Managing Director of TMB, and Richard Shuker, Technical Director of TMB, say “After considering a shortlist of six potential acquirers, we chose Fifosys because of the great fit between our people and cultures. Prism’s advice and guidance during the sale was invaluable. Their years of M&A experience and specific knowledge of the IT services sector was evident throughout. We are very happy with the outcome and excited to join forces with Fifosys.”

Mitesh Patel, founder and Managing Director of Fifosys, says “We’re delighted to welcome TMB into the Fifosys family. With over 30 years of experience, we believe this is our perfect next step, and we can’t wait to get going. We’re excited to help further empower our clients with our shared expertise and solutions and ensure they keep pace with the ever-increasing opportunities available.”

Peter Watson, Managing Director of Prism, says “TMB is a great business and we had a lot of interest when we went to market. We have enjoyed working with Tina and Richard and helping them to find the right new home for TMB. With such a strong synergy and similar cultures the future looks bright.”

Sell-side legal advice was provided to TMB by Russell-Cooke LLP.

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