Proact IT Group AB sells subsidiary of Proact IT UK Ltd.
| Source:ProAct IT Group AB
Proact has sold its holding in Exquip Network Services Ltd (“Exquip”). Exquip
operated as a subsidiary of the UK arm of Proact under the trading name of
Olympic Support, a third-party hardware maintenance provider of mission critical
enterprise hardware technology. The acquirer was Systems Maintenance Services
Inc. (“SMS”), a portfolio company of the US-based private equity firm Thomas H.
SMS, founded in 1981 and headquartered in Charlotte, NC is a global leader of
enterprise IT asset maintenance and lifecycle services.
Exquip has been a part of Proact IT UK (formerly B2net) since 2005, with
turnover of approximately £4M GBP and 25 employees. The financial implications
for Proact will be a contribution of cash of 1.0 MGBP and a positive impact upon
the operating profit in Q1.
“When Proact purchased B2net in 2011 we decided that the Exquip service
offerings were outside of our core business model and began seeking a strategic
suitor. I am pleased that we found a buyer whose business model and delivery
organization will be complimented by the integration of Exquip and all of its
employees” says Martin Ödman, CEO and President for Proact IT Group.
“With the sale of Exquip we can focus on our core business and direct our
management resources towards Proact´s focus areas” says Jason Clark, CEO for
Proact IT UK.
For further information, please contact:
Martin Ödman, CEO and President, Proact IT Group, phone +46 733 566811,
Jason Clark, CEO, Proact IT UK, phone +44 (0) 1246 266300
Proact is Europe's leading independent storage integrator and cloud services
enabler. Delivering business agility since 1994 Proact help organisations across
the globe reduce risk, reduce cost and most importantly deliver flexible,
available and highly secure IT services.
Proact’s solutions cover all aspects of data storage, virtualisation, networking
and security - with over 3,500 projects successfully delivered and 10PB of data
under management in the Proact Enterprise Cloud.
The Proact Group has more than 650 employees and conducts business in Belgium,
the Czech Republic, Denmark, Estonia, Finland, Latvia, Lithuania, the
Netherlands, Norway, Slovakia, Spain, Sweden and the United Kingdom. Proact was
founded in 1994 and its parent company, Proact IT Group AB (publ) has been
listed on Nasdaq OMX Stockholm since 1999 under the symbol PACT.
Additional information about Proact is available at
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