Excel I.T. Ltd confirms acquisition of Redstone Converged Solutions Ltd and Commensus Ltd from RedstoneConnect plc
The acquisition of Redstone Converged Solutions Ltd (RCS) and Commensus Ltd by Excel I.T. Ltd has been approved by RedstoneConnect plc shareholders, creating the UK’s largest pure play network, connectivity and IT infrastructure group.
The completion of the deal sees Excel I.T. acquire the assets, people and customer contracts of the Redstone Converged Solutions and Commensus operations. RedstoneConnect plc has retained ownership of its Connect and OneSpace software operations.
Operating under the name ExcelRedstone, the new group offers comprehensive design, implementation and support services throughout the datacentre, workplace, smart building and cloud environments.
ExcelRedstone CEO Barry Horgan said: “With the creation of ExcelRedstone we are delighted to have brought these outstanding teams together into a new unified force for the datacentre and intelligent infrastructure markets.
“ExcelRedstone is proud to serve an enviable client list from day one, including many of the world’s leading financial institutions, multi-national corporations and largest hyperscale data centre providers.
“To meet the increasingly complex and business critical IT infrastructure requirements of these clients, we can now offer a scale, quality and breadth of competencies that few – if any – can match.
“And responding to the increasingly international outlook of these businesses, we have created not just a new market-leader for the UK market but a platform from which we can build the largest IT infrastructure specialist across the EMEA region, with the capability to follow customers globally.”
The acquisition was completed with support from NatWest, transactions support services from BDO, commercial due diligence from EY-Parthnenon, and legal support from Gower & Co.
Chris Rees, NatWest Director – Structured Finance said: “NatWest is delighted to support our long standing customer, Excel I.T. Ltd, with its transformational acquisitions of Commensus Limited and Comunica Holdings Limited.
“We have backed the management team since 2008 and our continued support is aligned with NatWest’s strategy to support the UK mid-market to buy, build and transform.
“We look forward to continuing to working closely with the management team and support their aspirations to become the UK’s market leading IT infrastructure business.”