Prism Facilitate Sale of Managed IT Support and Services Provider

We are pleased to announce that the Prism Team have facilitated the sale of Coretek Ltd, an IT support and managed services provider, to Cobweb, an award-winning MSP and IT consultancy.

Coretek, based near Southampton, has been providing IT support and services to businesses and education for 25 years. They have built a strong reputation for providing fast and friendly IT support, cloud solutions, IT consultancy and infrastructure services. Coretek are one of a few IT managed service providers to operate their own privately-owned and UK-based cloud platform.

Cobweb is a leader in delivering cloud solutions, IT consultancy and fully managed IT services to businesses across the UK. The acquisition of Coretek strengthens Cobweb’s capabilities, allowing it to offer an even broader range of solutions to customers of both businesses. Together they share a common mission to deliver effective IT systems that keep businesses productive and secure in any setting.

Prism Corporate Broking (Prism) is a specialist M&A advisory that has been helping owner-managers to buy and sell businesses for over 20 years. The Prism team focus on working with clients in the tech sector and are experts in IT services and B2B software. Prism initially performed a review for Coretek’s owners to identify aspects of the business that could be improved and later guided them throughout the whole of the sale process to successful completion.

Clare Satchwell, Managing Director at Cobweb, said “We are excited to welcome Coretek into the Cobweb family. This acquisition allows us to combine our strengths and provide an even higher level of service and wider product portfolio to our clients.”

Garry Miller, founder of Coretek, said “Prism provided exceptional guidance throughout our business sale process and ensured that our objectives were met seamlessly. We are delighted with the outcome. Cobweb is a great fit for Coretek and we are excited for the future of the business and our staff.”

Peter Watson, Managing Director of Prism, said “We’ve been working with Garry for a number of years and we’re delighted to have facilitated the successful sale of Coretek to Cobweb, a business that shares their same company ethos.”

Sell-side legal advice was provided to Coretek by TC Group.

Find out more about our business sale service here: www.prismcorporatebroking.com/sell-your-business

Book a 1-to-1 Chat to discuss your M&A plans here: www.prismcorporatebroking.com/1-to-1-chat