Case Study: Keysource
- Deal size:
- Company Sales & Acquisitions
- Deal completed:
- September 2016
Meridian Corporate Finance (“Meridian”) advised the shareholders of Keysource Limited (“Keysource”) on the sale of their company to Styles&Wood Group Plc (“Styles&Wood”).
Based in Horsham, Sussex, and incorporated in 1998, Keysource specialises in delivering engineering and technology services for business critical environments. The Keysource executive management team will remain in the business and will continue to operate under its existing brand. The deal has been designed to provide it with a stronger operational and financial platform to support its ambitious growth plans moving forward.
The acquisition is in line with Styles&Wood’s strategy to diversify its service offering across key sectors and enhances the Group’s capabilities in technologies and critical facilities.
Mike West, CEO at Keysource, said “I was first introduced to Meridian in 2012 and it was clear from the start how hand’s on and dedicated they were. Darren, Philip and the wider Meridian Team, have a varied complimentary set of skills, which were significant in completing such a complex transaction. It’s clear that the team have tremendous experience to draw on and this helps to look at the deals in a different way. The financial modeling was also a really important element for our transaction and the team were committed to a win-win for all parties. Meridian have been flexible in their approach and hugely supportive to the Keysource team and complimented for their professionalism by the buyer. Meridian are the complete package and I would have no hesitation in recommending their services.”
According to the AMA Research Data Centre Construction Market Report published in March 2016 the market for data centres is forecast to reach over £1.1bn by the end of 2020, representing annual growth of 3 to 4%.