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Management buy in to Foundation Information Technology Limited
6/09/2010A team of Manchester professionals have advised on the management buy in to Newbury-based Foundation Information Technology Limited (Foundation). The buy in was led by Andy Sellers and Simon Grosse, with founder Simon Walker remaining as both Chairman and a shareholder. Consideration was not disclosed.
Foundation is a specialist provider of Virtualisation and Sharepoint, serving a range of blue chip companies. Simon Walker commented, “We have invested heavily in good people and in technology to provide an offering that is unsurpassed in our marketplace. The buy in now gives us the platform from which to develop the business further still.”
The transaction was led by Manchester and Halifax based corporate finance boutique Frazer Hall (Stephen Frazer and Jay Singh), with Caroline Litchfield of Brabners Chaffe Street solicitors acting as legal adviser and George Lovell, the Manchester based independent tax specialist, advising on tax.
For further information contact Deborah Ascott-Jones at Brabners Chaffe Street on 0151 600 3000
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