Business communication and IT services provider says purchase represents a clear growth opportunity for it and enhances its ability to deliver sustained growth
Daisy Group has acquired Indecs for £18 million. The purchased company is a provider of technical maintenance and support services for business critical, IT server and cloud storage facilities.
Indecs, which is head-quartered in Redditch, specialises in tailoring maintenance contracts to individual customers’ needs and supports legacy hardware systems.
It supplies services to a customer base ranging from leading blue chip names, such as HP, IBM, Cisco, Sun, Dell and Oracle, and public authorities to SMEs.
In the 12 months to June 30, 2013, Indecs reported revenue of £10.6 million and EBITDA of £2.6 million. It is expected to have in excess of £1 million of net cash on completion of the acquisition.
Daisy Group CEO Matthew Riley (pictured) said: “Indecs represents a strong strategic fit and clear growth opportunity for the Group. Its multi-vendor specialist maintenance and support services further expand Daisy’s IT services offering and give the Group the ability to support businesses on legacy IT systems as well as those investing in cloud solutions and cloud based data storage.
“I believe this exciting expansion of our Group’s service offering, together with the cross selling opportunities for both Indecs and our existing customer base, enhance the Group’s ability to deliver sustained growth.”