Sale of SysAdmins
Prism Corporate Broking has advised Systems Administrators Limited in the sale of 100% of the share capital to Clearsprings (Management) Limited, a leading provider of accommodation and support services in the UK.
Established in 1999, SysAdmins is a managed IT services group now employing over 50 people providing software development and IT support services. Owned jointly by Nick Clarke and Faruk Kara, SysAdmins is a Microsoft Gold partner and has a particular expertise in CRM development and implementation.
Both directors will remain with the business, and will continue to manage SysAdmins as a separate subsidiary.
Nick Clarke, CEO of SysAdmins, commented: “ We have grown SysAdmins each year and this move will provide additional capital for further growth. I am delighted to be a part of Clearsprings, and will be on hand to ensure that existing and new clients continue to receive the high level of service to which we aspire”
SysAdmins were advised on the sale by Peter Watson at Prism Corporate Broking, with Jennifer Manning at Kester Cunningham John providing legal support.
Clearly delighted with the swift outcome, Nick Clarke added: “The whole sale process to Clearsprings was conducted within 2 months from the initial meeting, which is a credit to our advisors and staff. Prism worked with me throughout the process, identifying the potential acquirers and negotiating the deal. They were always been on hand to provide sound advice and I look forward to working together in the future”
Peter Watson from Prism concluded: “This deal is clearly a very satisfactory outcome for both parties, with clear synergies. It is also an example of how timescales can be shortened with timely presentation of information and a willingness on both sides to make the deal work”
James Vyvyan-Robinson, Managing Director of Clearsprings, said “We are delighted to strengthen our IT capabilities with the addition of SysAdmins. The business has proven capabilities in managing large software development contracts, and IT support services, and when coupled with our existing Sharepoint development team, will enable us to handle a much broader range of projects.”
“We were ambitious to grow our IT services provision, and this acquisition puts us firmly on the map.”