A team from Transcend Corporate (“Transcend”), led by partner Steve Bartlett, is delighted to announce the sale of technology services business AlwaysON Group (“AOG”) to Cloud Direct, for an undisclosed sum. Transcend acted as lead advisers to the shareholders of AOG.
Bracknell, Berkshire, based AOG is a £5.5m revenue provider of unified communications (UC), data communication and managed data services to UK headquartered organisations, primarily mid-sized enterprises. Services include UC/voice services and managed Microsoft Exchange and security solutions management, using an in-house core MPLS network. AOG also provides network and connectivity services and application hosting services, including Skype for Business. Managed data services include net backup and recovery services (on-premise and cloud); data archiving; and data storage management.
AOG was owned by private equity firms Foresight Group and Mobeus Equity Partners, together with management and a group of private investors.
Cloud Direct is a provider of cloud based managed IT service to SMEs, encompassing UC, cloud back- up, disaster recovery, hosted VOIP telephony, Office 365 and cloud hosting and infrastructure.
Commenting, Martin Peck, executive chairman of AOG, said “We are delighted to have sold AlwaysON to Cloud Direct. The current investors built AOG up by merging two complementary IT services business, and having completed this process, the time was right for a new owner to take the business forward.”
Transcend partner Steve Bartlett commented: “We are pleased to have helped Foresight, Mobeus and management with their exit from AOG. This is a sector we know well, with a lot of M&A activity. Cloud Direct were an obviously strong fit with AOG and we are sure the business will flourish under their ownership.”
Brett Raynes, CEO of Cloud Direct said: “Since 2003, we’ve been helping organisations grow by migrating them to the cloud – quickly and securely. Moving forward, AOG’s capabilities will be critical to that as we drive better business continuity, people productivity and infrastructure. Their people and customers are a great asset to our business at this exciting time of high growth. We’ll slowly integrate the business into the Cloud Direct clan as we continue to support organic growth with an ambitious acquisition strategy.”