The management team of ComputerWorld Holdings Limited, led by managing director John Armstrong, has completed a management buyout.
ComputerWorld is a managed services provider and value-added reseller delivering expert-led business IT solutions, consultancy and training services.
The business specialises in infrastructure modernisation, workspace transformation and security solutions and partners with Dell EMC, VMware and Microsoft amongst others.
ComputerWorld had a turnover of £14.5 million in 2017 and is headquartered in Bristol. It also has an office in Cardiff and employs 42 people.
The management team, which is made up of John Armstrong, Barry Coombs, David Wynn and Jonathon Pine, has led the company for over ten years and the buyout is the result of a long-term succession strategy.
The vendor, Emma de Haes-White and chairman John Hollingdale, will retain an involvement in the business.
“The team is very proud and honoured to have successfully completed the MBO,” said Armstrong.
“We are delighted to have retained the involvement of all previous stakeholders whilst giving a new ownership structure that will enable the management team to deliver the strategic plan for the business over the coming years.
“Computerworld is committed to providing a premium service and the MBO will enable this focus to continue and for us to build on our range of services which we see as a real plus for our customers.”
Gambit Corporate Finance LLP has acted as lead advisors on the transaction. Gambit’s team was led by Geraint Rowe and Tim Brotherton.
Legal advice to the MBO team was provided by Acuity Legal, led by Stephen Berry and Tom Saunderson. Legal advice to the vendors was provided by Bruce Roxburgh and Philip Edmunds of Roxburgh Milkins.
Tim Brotherton of Gambit Corporate Finance said: “The management team has guided the company through a successful growth period in recent years with the company building a reputation for its quality of service and expertise in specialist areas.
“The buyout will enable the management team to continue to ensure that the company provides its customers with the level of service and in-depth knowledge that they have experienced to date.”