Posted: 22 / 03 / 2021
The Sedulo Corporate Finance team worked with the Macclesfield based IT Managed Service Provider, Fabric IT, to complete the process of the acquisition by the Circle Group.
Rebranded as Fabric IT in 2017, the organisation has witnessed exceptional growth in recent years and now works with around 200 companies providing IT services. The new venture enables Fabric to develop even further, with numerous growth opportunities available to them. Whilst they will become part of the Circle Group, Fabric will operate autonomously as normal from its current head office location.
A spokesperson from Fabric IT commented:
“Sedulo and CG Professionals managed the process for us, offering guidance throughout in order for us to meet our desired timelines and start the next chapter with Circle.”
Sedulo’s Benn Longshaw added:
“It has been a pleasure to work with Geoff and Ed in recent months to assist with the sale of Fabric IT. They have worked so hard to build up the business over several years and are now being rewarded. We look forward to seeing what the future holds for Fabric IT. We do not doubt that the business will continue to go from strength to strength under new ownership.”
With the backing of Circle, Fabric is set to reach new heights, increasing it’s presence across the UK. The Group now comes to £25 million in turnover with over 100 employees. The business with benefit from enhanced Microsoft Cloud capabilities. Circle bring their expertise in cybersecurity, data centre services, critical infrastructure support, back-up and disaster recovery and networking, including a 24x7x365 Network Operations Centre.
Benn Longshaw and Aaron Malhotra of Sedulo assisted on the business’s disposal to Cardiff-based, Circle. Benjamin Dredge and Lucy Reade from CG Professional provided legal support to the shareholders of Fabric IT, playing a vital role in the process. Circle were represented by Mandip Riar and Alison Scott of HCR Law, with due diligence provided by Joseph Coghlan and Orkhan Freeman of Bishop Fleming. Emma Owen of Barford Owen Davies was also involved to offer her financial expertise.