4th July 2016Back To News
Elite Founder and CEO Matt Newing said, “This deal cements our position at the forefront of unified communications and broadens our capabilities in cloud based technologies.”
Carnforth based NetCentrix and SystemHOST specialise in architecting bespoke cloud platforms for a mixture of public and private sector clients.
This is a key move for Elite as it continues to grow its Managed IT and Cloud division by acquiring an established group offering a complimentary, innovative product set. The business is located just 20 minutes from Elite’s Chorley offices and the specialist technical team will enhance Elite’s existing 150 strong workforce.
NetCentrix was founded in 2002 and enjoys an excellent reputation for designing, implementing and managing enterprise IT solutions for corporate and public sector clients, however more recently it has been guiding clients in their transition towards cloud based solutions for storage and workforce collaboration. In 2004 Phil Scanlon created SystemHOST, a wholly owned subsidiary specialising solely in hosted IT solutions which allow SMEs and corporate clients to outsource part or all of their IT function.
NetCentrix is Elite’s eleventh acquisition since 2008 and, with further deals in the pipeline, marks a return to M&A for Newing and his management team.
Matt added: “There is an ever increasing demand for fast, reliable and secure data hosting and storage solutions. This acquisition brings a third data centre on-net to Elite’s UK wide NGN core network. We have increased our capacity to offer IT and Cloud solutions and we have exciting plans for further innovation in the market with NetCentrix and SystemHOST on board.”
Phil Scanlon, Managing Director and founder of NetCentrix says: “We are extremely excited to be joining Elite and becoming part of the team. Our products greatly complement Elite’s existing solutions and we are very much looking forward to launching the combined offering into the market.”
Advisors to the transaction
Pete Terry at Mazars acted as lead advisor to the shareholders of NetCentrix, with Frank Shephard, Darren Ormsby and Francesca Kinsella of DWF providing legal advice.
Elite’s Legal Counsel, Gareth McIntegart advised Elite with support from DLA Piper on Property matters.
Ian Riggs and Helen Penfold at Hill Dickinson provided legal advice to Lloyds Bank in connection with the £20m acquisitions facility provided to Elitetele.com plc.