INDUSTRY
Established in 1999, Response IT (RITS) is an IT & Comms Managed Service Provider that has grown steadily year on year. Managing Director Simon Rafferty first contacted Avondale in 2021 with a view to planning an exit to free him up from ties in the UK so he could in the fullness of time emigrate to Canada and enjoy an active outdoor lifestyle.
Shareholders, Simon, Dez and Graeme decided the time was right to begin the process and instructed Avondale proceed. Avondale received 77 enquiries from its initial approach to its own database and, due to this very high response with the directors of RITS, the decision was made not to go out to market.
Avondale received several indicative offers, and, ultimately, Modern Networks were chosen as the preferred acquirer, in part due to a strong offer, but of equal importance was a good commercial and cultural fit between the businesses – what was of particular importance as Dez and Graham planned to stay with RITS for a number of years post-completion. Unusually, the initial approach came from Horizon rather than Modern Networks, as at the time Horizon were still finalizing their platform acquisition of Modern Networks and the deal had not yet completed.
“Thank you to all your team, in particular for putting up with my endless ‘what ifs’..”
Graeme Donnelly – Finance Director
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