The team provided the due diligence report as well as completing the financial aspects of the transaction, whilst Farley's Solicitors provided the legal advice.
Core Technology Systems is a market-leading, independent, end-to-end Cloud Managed Services Provider, delivering IT infrastructure support, managed services, and digital transformation solutions to its private and public sector customers.
Pierce Corporate Finance Director, Steve Bell said; "Having been engaged to advise Core on the financial aspects of the transaction we gained a detailed understanding of the structure of the acquisition and how CNL fits into the long-term growth strategy of Core. It is clear that the acquisition will continue to deliver significant synergies to the enlarged group.
We will watch the ongoing development with interest as the business develops further"
CEO of Core, Conor Callanan commented, “We are delighted to complete the acquisition of CompanyNet, a highly skilled and customer-centric company with values that align with ours. We are focused on developing capability and excellent levels of service for our customers, and this acquisition means greater project management capability and additional resources. We have developed long-lasting relationships with our customers and partners because they trust in our delivery of service and excellence, and this expansion provides the opportunity for us to add more value for our existing and new customers.”
Debbie King of Farley's Corporate Team providing the legal advice said; "This is an excellent deal between two firms that fit together perfectly in terms of their capability and expertise, with an exciting prospect going forward for both existing and new customers. It has been a pleasure to advise on this transaction and we look forward to seeing the company continue to go from strength to strength.”
The strategic acquisition of CompanyNet strengthens Core’s technical capability and provides geographic expansion into Scotland with 25 employees and offices in Edinburgh and Glasgow included in the acquisition. The acquisition results in even greater value and additional service and project delivery capabilities for customers of both companies.
Core has recently been selected as a finalist for MSP of the Year and Cloud Service Provider of the Year in the CRN Channel Awards.
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