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Benchmark International Successfully Facilitated the Transaction Between Systems Assurance Limited and CloudCoCo PLC

October 8, 2021

Benchmark International is pleased to announce the acquisition of Sheffield-based Systems Assurance by Warrington-based CloudCoCo.

Systems Assurance is a Microsoft Gold B2B reseller of IT hardware, software, and solutions, working with SME and public sector clients through its portfolio of cloud subscriptions and migration services. In the year ending 31 December 2020 the company generated revenue of £6.09m and an adjusted EBITDA of £209k.

CloudCoco is an AIM-listed provider of IT and communications services to businesses and public sector organisations. The acquisition of Systems Assurance marks part of CloudCoco’s buy and build strategy.

Chris Wheater, director at Systems Assurance, said this about working with Benchmark International: “There are many companies out there offering to find a buyer and help sell your company. So it's a big step to finally pick one, sign up and pay your money. I’m happy to report that Benchmark provided a great service and did what they said they would. We recently completed our sale and I would have no hesitation in recommending them. James Robinson and Roger Forshaw were supportive every step of the way and their experience and calm heads are just what is needed especially in the latter stages. A great service all round.”

Mark Halpin, Chief Executive of CloudCoCo, said: “I would like to welcome the Systems Assurance team to the fold. They bring with them fantastic technology and an impressive customer base that not only complement the existing CloudCoCo business but will help unlock its potential through driving substantial efficiency gains and introducing new cross-selling opportunities.

“I am grateful to all those who have joined us on our journey through the Placing. As well as making the Acquisition possible, it has given us the opportunity to strengthen our balance sheet while giving us headroom to explore further M&A activity – a key focus for the Group in the short-term.

“This is the start of an exciting new chapter in the CloudCoCo story and I look forward to reporting on further progress in due course.”



Americas: Sam Smoot at +1 (813) 898 2350 / [email protected]

Europe: Michael Lawrie at +44 (0) 161 359 4400 / [email protected]

Africa: Anthony McCardle at +27 21 300 2055 / [email protected] 

 

ABOUT BENCHMARK INTERNATIONAL:

Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $11 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International's transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive M&A Advisor in the World by Pitchbook's Global League Tables.

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