Calyx forks out following MBO

Calyx forks out following MBO

Integrator makes first acquisition since delisting from the London and Dublin stock exchanges in July

Ambitious integrator Calyx has resumed its high-octane acquisition spree by grabbing managed services outfit ServiceTec for an undisclosed sum.

ServiceTec is the UK operating company of the SGS Group, which has offloaded the unit to focus on its international airport services arm. A specialist in the charity sector, ServiceTec’s clients include Ford, Watson Wyatt, NCP and Marie Curie Cancer Care.

The move represents Dublin-based Calyx’s first acquisition since its management buy-out in July, when it revealed plans to build a €500m pan-European monster within three years through acquisition.

Previous acquisitions include Matrix, Mentec and ITS Technology Services.

Maurice Healy, chief executive at Calyx, claimed ServiceTec was an excellent fit with its existing UK business.

“ServiceTec has built a very strong base of blue chip customers with excellent recurring revenue streams and it will provide many opportunities for us to cross-sell the technologies which we already provide through our Matrix Communications and Mentec businesses in the UK,” he said.

Andy Anderson, chief executive of ServiceTec Global Services, said: “We are very pleased to have found [a suitable parent] in the Calyx, which offers to the staff of ServiceTec an exciting future in an expanding business, and to our customers a continuation and development of the excellent service for which ServiceTec has always been known.”