Combined operation will employ over 100 people
Congratulations to Unity Technologies I.T Limited (‘Unity’) (a leading provider of IT Cloud Managed Services) on the acquisition of IT Force Limited (‘ITF’) (a provider of IT Cloud Support, Managed IT Services and Managed IT Security Services) for an undisclosed consideration. Stephen Walker, our consultant corporate solicitor, was pleased to advise and support ITF in this transaction.
The experience and breadth of services of the two businesses will enable the combined entity to further service the needs of their expanding client base of over 600 companies across IT Cloud and Managed Services, Professional Services and IT Security. Revenue for the expanded group will exceed €16m and the company will employ over 100 people.
David Hargaden (CEO of Unity) stated; “We are delighted with the acquisition of the ITF business. This acquisition will enhance the depth and expertise of what we offer our customers in IT Cloud Services and Cloud Security. We have ambitious growth plans for the combined businesses into the future, underpinned by the strong recurring customer base and the specialist services we provide. This is another milestone on our growth journey.”
Roisin Cahill (Director ITF), said; “John Bergin and I and all the team at IT Force are excited to join forces with David Hargaden and his team at Unity Technology. They have significant growth plans that mirror our own ambition. We have built a successful business over the last two decades by being a reliable and trusted partner to clients and by providing award winning IT support. This new venture will enable us offer even more value to our clients and provides exciting opportunities for our colleagues in an expanded operation.”
Pat Walsh (Dunport Capital Management), commented; “DunPort Capital Management is delighted to have provided additional capital to Unity for the strategic acquisition of IT Force. We look forward to working with the Unity management team led by David Hargaden over the coming years as Unity continues to build on their impressive track record to date in the domestic IT Managed Services sector. DunPort is focused on the provision of flexible debt capital to well-managed, high quality SMEs and mid-sized corporates. In that context and especially in these challenging times for all businesses, we were very pleased to have once again supported Unity, an existing borrower since 2019.”