The international Managed Services Provider (MSP) Synergy Associates Ltd has completed its acquisition of Fresh Tech Limited, marking the next step in the firm’s M&A-driven growth strategy. Despite the developing situation with COVID 19, the transaction completed in April 2020.
Synergy’s advisors, Evolution Capital, acted as introducer and supported negotiations, leading to a successful completion of the deal for an undisclosed sum.
Alexander Caplan, Founder of Synergy Associates, said: “Evolution introduced us to Fresh Tech in 2017, and we immediately saw the opportunity for an exciting collaboration with a leading MSP operating in complementary market sectors. Synergy and Fresh Tech are alike in numerous respects –international reach, dedication to clients, and advocacy of Cloud-first solutions. Evolution helped to negotiate and realise the merger, bringing value to each party, and working to create a substantial new firm with enhanced capabilities and scale.
Ric McCorriston, Founder of Fresh Tech, said: “At an early stage, we identified shared values and aspirations between our two organisations. The consolidation of our resources has enabled us expand our activities internationally, with further opportunities for growth on the horizon.”
Duncan Gregory, Head of Evolution Capital’s Transaction Team, said: “After working with Synergy for five years and helping them create significant value in their business, we are delighted with the outcome of this acquisition as part of what we believe will be a very successful M&A strategy. Our innovative and bespoke process, which has been developed in-house by Evolution Capital following decades of transactional experience, has enabled us to keep transactions on track despite the negative effects of the pandemic.”