Liverpool-headquartered SysGroup has expanded its UK footprint into Scotland with the acquisition of Edinburgh-based Truststream Security Solutions for £4.8 million.
SysGroup, an IT managed services and cloud hosting provider, has paid for the deal from its existing cash balance and a new revolving credit facility of £8 million from Santander.
Hill Dickinson’s Manchester Corporate team advised SysGroup on the deal, led by head of Manchester Corporate Ian Gillis and legal director Sean Lightfoot, supported by senior associate James Redshaw. Alasdair Mackinnon and Alex Quinn, who advised SysGroup in relation to the new revolving credit facility.
We have worked as legal advisers to SysGroup for a number of years now and feel proud to be part of the team as the company continues to grow. We have guided the management team at various points of organic growth and through strategic acquisitions such as this one and we wish both parties every success in this latest phase of their growth.Ian Gillis
Partner, Hill Dickinson
The addition of Truststream to the SysGroup portfolio further supports the company’s strategy to become the leading provider of managed IT services to the UK mid-market, with cyber security identified as a key priority for its target client base.
Established in 2011, Truststream is a fast-growing provider of professional and managed cyber security services, with a turnover of £3.2 million.