The Magazine

	Print
	Email
	Text size
	Comment

New management steps in for Triage sale

By Mark Dunne on March 30 2007

A group that specialises in maintaining and repairing IT systems is to expand its market share after being bought by a management team.

Triage Services, which focuses its operations on desktop products, mobile technology devices and ATMs, has been bought in a secondary buy-out.

The financial terms of the deal have not been disclosed, but it was completed after three private equity firms agreed to finance the proposal. Kaye Enterprises, Bridges Ventures and Calculus Capital financed the deal with debt provided by The Royal Bank of Scotland.

The buy-out was led by non-executive chairman Mike Norris, who is the chief executive of IT infrastructure services business Computacenter. He was joined in the deal by Gary Moinet, Colin Mackrill and Steve Ralph.

The selling shareholders include some of the business’s founding directors as well as venture capitalist and private equity group 3i, which backed the first buy-out at the company 10 years ago.

Triage has a £13 million turnover with more than 230 employees at its offices in Bedfordshire, Manchester, Newport and Wokingham.

Comments [0]