South West accountants Milsted Langdon has assisted a Wiltshire IT company and an IT firm in Bristol with their strategic merger by helping to secure a six-figure finance facility from HSBC UK.
MDS Technologies, which designs, builds and manages Cloud infrastructures, platforms and IT solutions predominantly for large public sector clients, has used the finance from HSBC UK to acquire Bristol IT Company, which provides IT services to the private SME market.
Despite the general downturn experienced due to the COVID-19 pandemic, Milsted Langdon was able to support these firms in the booming IT sector. Unlike other industries, many IT firms have seen an increase in work as businesses adapt to remote working and new approaches.
The deal, completed with the help of Milsted Langdon’s Corporate Finance team, began before the COVID-19 crisis and continued as MDS Technologies considered Bristol IT Company as the ideal business to increase the breadth and depth of its services.
Amin Khataee of Bristol IT Company said: “Milsted Langdon helped me greatly to navigate the huge accounting and commercial complexities of this process”.
Bristol IT Company works with large international corporations and regional companies, such as Bristol Music Trust, Molson Group, Brisdoc and The Bottle Yard Studios.
Meanwhile, MDS Technologies already has an extensive client base that relies on its high level of IT infrastructure support, including the Home Office, Ministry of Justice, Ministry of Defence and the NHS.
Susannah Adams, Corporate Finance Partner at Milsted Langdon, said: “It was a pleasure to be part of this project and guide it through to completion. It’s very rewarding to see some positive business activity in such uncertain times and I wish both parties every success in the future”.
To find out more about Milsted Langdon’s Corporate Finance services, please visit: https://www.milstedlangdon.co.uk/services-for-business/corporate-finance/.