technology 13
Spectrum advises Deverill on sale
Spectrum Corporate Finance (Spehas advised Poole-based Deverill and its shareholders on the sale of the company to 365itms, a leading UK IT services provider based in Reading.
Spectrum acted as lead adviser, completing a thorough marketing and sales process and project managing the deal through to a successful completion.
The acquisition of Deverill has cemented the position of 365itms as one of the UK’s leading IT managed service providers to the corporate market. It has also doubled the size of the company to a £20-million-turnover business, and expanded its geographical reach across the south.
The combined organisations boast some of the highest-level vendor accreditations including VMWare, HP, Cisco, Microsoft, Dell, Citrix and a range of other leading manufacturers. 365itms will now
be able to offer an enhanced range of services and solutions.
Joel Jervis, managing director of Deverill, commented: “Working with Spectrum was a pleasure. Right from the start they demonstrated their knowledge of the sector and how best to market the company for the most advantageous return for the shareholders.”
Steve Ellis, managing director at 365itms, said: “We are always looking to identify new areas where we can bring complementary services to our portfolio and this acquisition forms part of this strategy.”
Darren Miller, head of Spectrum at Southampton, said: “We are delighted to have completed this deal for Deverill’s shareholders. Deverill has been a leading regional provider of managed services, IT solutions and training for many years and the sector continues to be an active one for M&A.”
Barnbrook Systems flies the flag
Barnbrook Systems, the award- winning company based in Fareham, has stepped up its national profile by having a delegation for the first time at the Defence and Procurement, Research and Technology Exportability (DPRTE) conference, one of the country’s leading trade fairs for the defence sector.
The one-day event at the Westpoint Centre in Cardiff was attended by more than 1,500 people. Its aim is to connect supply chains within the defence sector.
Andrew Barnbrook, chief technology officer of 35-strong Barnbrook, said: “As trusted supplier to global prime contractors, we were able to raise our profile at an international level and make valuable new business contacts. We also gained useful insights into the latest developments in the defence procurement marketplace.”
Barnbrook Systems, a family-run firm, is a supplier to such global giants as Finmeccanica, Boeing, Rolls Royce and BAE Systems. It is a long- serving member of the ADS trade
group advancing UK aerospace, defence and security industry interests and is a member of the Farnborough Aerospace Consortium (FAC).
Barnbrook has exhibited at the Farnborough International Airshow for the past 20 years and will be at the event again this July.
It has scooped a series of awards and honours over the past two years, including many for its innovative BlueCube remote condition monitoring technology. The awards include the National Passenger Safety title for brake controller at the UK Rail Industry Awards 2014, Supplier of the Year at the Light Rail Industry Awards in 2014, and Innovation of the Year at the Solent Business Awards 2015.
Barnbrook was highly commended in the Technical Innovation category at the Light Rail Industry Awards in 2014, and in Innovation of the Year Award at the Portsmouth News Business Excellence Awards 2015. It was a finalist in the Digital Pioneer and Mobile Technology categories at UK Rail Industry Awards 2016.
THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – MAY 2016
www.businessmag.co.uk
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