Spectrum Corporate Finance has successfully advised K3 Business Technologies Group (“K3”) on the sale of Starcom Technologies Limited, to cloud-led digital transformation Managed Services Provider, Node4.
With annualised revenues of £11m, Starcom Technologies has built a reputation as a collaborative and service-led cloud, hosted and managed services provider.
The acquisition will see Starcom Technologies become part of Node4’s comprehensive portfolio of services, further adding to its capability of delivering enhanced cloud managed services throughout the UK. It also expands Node4’s operational presence with offices in Scotland, the North West and South East England. This acquisition presents a huge opportunity for Node4 to continue its growth as a leading national provider of cloud managed services, expanding its operational footprint while deepening its cloud hosting expertise with enterprise resource planning (ERP) systems such as SYSPRO, Sage and Microsoft Dynamics.
Spectrum initially completed a strategic review of Starcom Technologies, providing K3 with different options for the corporate divestment of Starcom Technologies. Spectrum were subsequently appointed to complete a full sales process, resulting in the successful sale to Node4.
Neil Farnworth, Managing Director at Starcom Technologies said,
“Being acquired by Node4 is a fantastic next step for Starcom Technologies. Our shared culture and commitment to exceptional service are in complete alignment, and this deal will ensure those values are maintained as we scale together. I’m extremely pleased Starcom employees will have the opportunity to grow and enhance their skills with access to Node4’s expertise and services. We’re looking forward to playing a key part in developing the exciting roadmap of cloud-led, digital transformation services that Node4 has in store.”
“Starcom Technologies is a high quality business and Spectrum provided high quality end to end support from insight and strategies into the positioning of the disposal in the market, through to process management and commercial optimisation. All this enabled a successful transaction and an excellent new home in Node4 for the Starcom customers and employees.”Rob Price, CFO of K3
“Welcoming Starcom Technologies, its management team and entire employee base to the Node4 family is an important step for both organisations in our shared mission of helping businesses on their journey to the cloud and digital transformation. As a fast-growth business, keeping our core values at the centre of what we do is crucial, and we worked hard to identify an organisation that would complement and enhance both our service offering and company culture.”Andy Gilbert, CEO at Node4
“Node4 is the natural home for Starcom, which brings additional capabilities and a quality management team to Node4, and I’m sure the business and management team will continue to prosper under the new ownership. We thoroughly enjoyed working with the K3 and Starcom teams to deliver this outcome, and the success of this deal can be credited to all parties who worked collaboratively to complete this complex transaction.”James Mines, Director and Head of Technology at Spectrum Corporate Finance