The strategic acquisition of CompanyNet strengthens our technical capability and provides geographic expansion into Scotland, with 25 employees and offices in Edinburgh and Glasgow included in the acquisition. This acquisition results in even greater value and additional service and project delivery capabilities for both our customers, and customers of CompanyNet.
Our 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.”
Core and CompanyNet look forward to a successful integration for sustained development and growth.
The corporate team at Farleys Solicitors advised on the successful acquisition, with Debbie King providing legal advice, supported by Amy Duncan. Debbie commented, “This is an excellent deal between two firms that fit together perfectly in terms of their capability and expertise, with an exciting prospect going forward for both existing and new customers. It has been a pleasure to advise on this transaction and we look forward to seeing the company continue to go from strength to strength.”
The financial aspects of the transaction were advised by Pierce Chartered Accountants, led by Kevin Steven and Steven Bell.
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, commented, “We were delighted to support Core on their M&A transaction, assisting with strategic target identification through to valuation, negotiation and completion.”
Core has recently been selected as a finalist for MSP of the Year and Cloud Service Provider of the Year in the CRN Channel Awards and continues to go from strength to strength in 2022 with 5 finalist nominations in the CRN Sales & Marketing Awards, one win for Best Marketing Campaign, and a Highly Commended for the Over and Above Achievement Award. Our Marketing Director is also a finalist for Role Model of the Year and the Rising Star Award in the CRN Women & Diversity in Channel Awards.