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.
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.
Hill Dickinson’s Manchester Corporate team advised SysGroup on the deal, led by head of Manchester Corporate Ian Gillis (Picture) 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.
Law Firms: Hill Dickinson;
Clients: SysGroup Plc;