Core completes acquisition of Edinburgh-based CompanyNet

Core completes acquisition of Edinburgh-based CompanyNet

Andy Hamilton

Edinburgh-based managed services provider, CompanyNet Ltd has been acquired by Core Technology Systems, a Microsoft cloud managed service partner, for an undisclosed sum.#

The acquisition of CompanyNet strengthens Core’s technical capability and provides geographic expansion into Scotland, with 25 employees and offices in Edinburgh and Glasgow included in the acquisition.

Core’s CEO, Conor Callanan, commented: “We are delighted to complete the acquisition of CompanyNet, a highly skilled and customer-centric company whose values align to ours. We are focused on developing capability and excellent levels of service for our customers, and this acquisition means greater capability and additional resources.

“We have developed long-lasting relationships with our customers and partners because they trust in our delivery of service excellence, and this expansion provides opportunity for us to add more value to our existing and new customers.”

Andy Hamilton, CompanyNet CEO, commented: “We are pleased to confirm Core as our partner of choice, demonstrating the experience, values and expertise that ensures our business remains in excellent hands.

“As well as fitting with the broader CompanyNet strategy, we are delighted to have culture and values that align, and we are confident this agreement represents the best interests of CompanyNet employees, customers, and partners, providing great opportunities for both parties.”

The acquisition was completed with a funding package from ThinCats, and with support from leading M&A platform for mid-market transactions in the technology industry, Danescor.

Stuart Thompson, head of transitional capital, ThinCats, commented: “We are thrilled to have supported Core with this acquisition. CompanyNet is a perfect fit and will enable the business to expand its proposition and reach even more customers across the UK.

“It has been a pleasure working with Conor and the Core expert team, and we are looking forward to seeing their continued growth.”

John Snead, Danescor CEO, said: “We were delighted to support Core on their M&A transaction, assisting with strategic target identification through to valuation, negotiation and completion.”

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