Business Acquisitions

Corporate finance specialists Watersheds has announced the acquisition of Systems Administrators Limited (‘SysAdmins’) by ClearSprings Management Limited.

Located in Rayleigh, Essex, ClearSprings is a leading private provider of supported housing to the government. Having developed and implemented efficient software systems for managing their own client relations, ClearSprings has been looking for opportunities to expand its IT operations and the acquisition of another IT consultancy appeared to be the perfect solution.

Formed in 1999, Cambridge based SysAdmins, a Microsoft Gold Certified Partner, is a proactive company focused on designing, implementing and managing information technology. With over 40 members of staff, the company delivers IT solutions to a variety of SME businesses in East Anglia. To cope with growing demand for software solutions across the region, SysAdmins increased its programming capacity by setting up an office in Sri Lanka in 2005. The vendors of SysAdmins are co-founder Faruk Kara and Director Nick Clarke.

The deal was project managed by Watersheds’ Director, Richard Buzzoni, who comments, “I am pleased that despite the demanding schedules of the parties involved, the transaction has been completed in just two months from the initial identification of the opportunity for our client. I have worked with ClearSprings for some time now and I am impressed with their strategic vision, the business model and the delivery. I am certain their input will secure the future success and growth of both companies.”

Randle Slatter, Finance Director of ClearSprings said, “We are delighted to complete this deal which will enable us to achieve our long term expansion goals. Watersheds provided a complete service from initial vetting and introductory meetings, through to assistance and advice, leading to a successful completion. Their approach was professional, competent and good humoured throughout, and I would certainly use them again.”

Nick Burnett, Partner, and Eileen McKendry-Gray, Solicitor, at Wollastons in Chelmsford provided the legal advice and the transaction was financed from the acquirer’s internal funds.

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For more information call us on Northampton 01604 660511 or Swindon 01793 719788 or Crawley 01293 804514