Basingstoke (PRWEB UK) 26 September 2011
365 ITMS Limited is pleased to announce a management buyout, backed by LMS Capital plc, of a number of business divisions from 365 iT plc.
The business divisions acquired deliver a range of technology solutions extending from unified communications to network and system infrastructure, security, business continuity and managed services. The divisions will be integrated to create a single company with a forecast combined turnover of £10.2 million for the financial year ending 31st December 2011.
The new company, 365 ITMS, will be managed by Peter Howells who was the Managing Director and co-founder of 5i Limited, the unified communications specialist. Peter MacLean, Chairman and Chief Executive of 365 iT plc who also joins the board as Non-Executive Chairman will focus on corporate strategy and acquisitions.
Peter Howells, Managing Director of 365 ITMS said “Our aim is to become the trusted IT services supplier of choice for corporate businesses in the UK. Bringing together the separate divisions under one banner will provide us with one of the strongest portfolio of technologies and services possible and allow us to work closer with existing and new customers and business partners to achieve this goal.”
Howells added "Working with LMS Capital will not only ensure that we have the capital to fund organic growth but also provide access to a greater source of investment capital to acquire other businesses that will further strengthen our overall proposition in key areas of technology and services delivery.”
Commenting on the investment, Pieter Hooft, Managing Director UK Investments at LMS Capital, said “We are delighted to have the opportunity to be part of 365 ITMS Limited. Our due diligence has confirmed that the individual businesses are held in high regard by customers and key suppliers and we are confident that their integration into a single new company, under a management team that has a proven track record of profitable growth, will create an outstanding company that will take advantage of the rapidly changing IT landscape."
For further information please contact:
Peter Howells: Managing Director, 365 ITMS Limited 0118 988 5558
Pieter Hooft: Managing Director UK Investments, LMS Capital 020 7935 3555