01 Jun 2019
ICON Corporate Finance, a specialist in Technology M&A, has advised Hub Network Services Ltd (‘HNS’), a B2B, managed services provider, on its sale to SysGroup Plc.
Based in Bristol, UK, HNS is a managed connectivity and co-location solutions provider with a customer base which includes some of the UK’s most well-known brands. The deal will see HNS’ network infrastructure, supply agreements and extensive experience in the industry compliment and expand SysGroup’s existing managed IT and cloud hosting offering. Enabling SysGroup’s customers to benefit from an enhanced portfolio of services and solutions that help address the increasingly complex IT landscape in which they operate.
Adam Binks, Chief Executive Officer, SysGroup, commented: “I am thrilled to have made our second acquisition of the year and look forward to working with the HNS team in due course. The acquisition of HNS further complements our existing services, enabling us to offer our customer base an even wider range of enterprise-grade managed connectivity services alongside our existing managed IT services portfolio.”
James Kenward, Director, ICON Corporate Finance, who lead the deal commented: “We are delighted to have acted as corporate finance advisers on the sale. HNS are industry experts, providing a consultative approach in connectivity and co-location. The business was attractive to a range of UK acquirers due to its strong customer base, long contracted revenues and a core network infrastructure coupled with its supply agreements with multiple UK network operators.”
“SysGroup was selected due to its strategic fit which broadens its service offering, providing cost synergies and further enhances their managed service solutions proposition to their customers.”