Maurice Healy’s Calyx has renewed its acquisition offensive with a complete purchase of the UK operations of an IT company with a strong installed base of airport clients from the west coast of the US to Germany.
The acquisition of the entire share capital of ServiceTec in the UK is the latest in a half dozen different IT company acquisitions in the past two years and the first since Calyx’s management buyout (MBO) during the summer.
ServiceTec UK is a subsidiary of Andy Anderson’s SGS group of companies, which specialises in looking after airport IT in Europe and the US.
The UK subsidiary has provided IT infrastructure support since 1989 and as well as airport services it has developed a niche in the charity sector.
Clients of ServiceTec include Ford, Watson Wyatt, NCP, Corus, Sue Ryder and Marie Curie Cancer Care.
“Calyx is very pleased to have reached agreement for the acquisition of ServiceTec, which is an excellent strategic fit with our existing business in the UK,” explained Healy.
“ServiceTec has built a very strong base of blue-chip customers with excellent recurring revenue streams and it will provide many opportunities for us to cross-sell the technologies which we already provide through our Matrix Communications and Mentec businesses in the UK,” he added.
SGS chief executive Andy Anderson said the sale of its UK managed services subsidiary to Calyx allows SGS to focus on building up its lucrative airport services business.
By John Kennedy