INDUSTRY
Sharp Business Systems Plc acquired CompleteIT Limited, a Buckinghamshire- based, leading Managed IT Services Provider (MSP), with a philosophy of local service delivered nationally to a diverse range of SME/mid-market clients.
Sharp Business Systems Plc, a global organisation, had previously defined a progressive corporate level strategy to augment their traditional existing Managed Print and Document Management business streams with an IT Managed Service Provider (MSP). In August 2017, Sharp started upon this journey with the acquisition of Midshires Business Systems, a predominately Managed Print VAR with a modest IT Managed Services offering covering the North West and Midlands.
For their second acquisition in this marketplace, Sharp decided to engage Avondale as their strategic corporate advisor, and the decision was made to complement the initial acquisition with a pureplay SME/mid-market UK MSP with broader/complimentary geographical coverage. Avondale thus drew upon their extensive tech market expertise to research suitable potential acquisition targets.
CompeteIT was quickly identified as being of interest, due to its critical mass, breadth of technology experience, market positioning and strong management team. Avondale carefully managed the acquisition negotiations on behalf of Sharp, helping to secure a very reasonable acquisition price for the CompleteIT business, together with terms to retain key existing directors to manage the combined company through to its next phase of growth under Sharp’s ownership. Avondale have now been tasked to seek suitable MSP’s for Sharp Europe.
“I just wanted to thank you (Avondale) for your sage counsel and hard work over the past 9 months.”
Stuart Sykes, MD Sharp Business Systems Plc
