Orbis on cloud nine with the sale of Intercept IT Limited
Intercept was a leading UK cloud service provider with a focus on the Financial Services and Insurance sectors. Founded in 2002 the Company designed, built and managed cloud computing environments for both the corporate and SME markets. Over its twelve-year history, Intercept had developed its own proprietary cloud computing platform, one of the longest standing in the UK.
During the two years we’ve been working together, Orbis truly lived and breathed our business and were never short of a solution. Throughout the process, their dedicated senior team added significant value to the shareholders.
Richard Gilder, Managing Director and Shareholder
Over a period of nearly two years, Orbis worked closely with the shareholders to prepare the business for an exit and identify strategic buyers who would benefit from Intercepts’ proprietary platform. All this at a time when the cloud computing market was experiencing significant growth.
The buyer selected, Alternative Networks PLC, was one of the UK’s leading independent telecommunications service providers with a market capitalisation of £230 million. AIM-listed since 2005, Alternative had a turnover in excess of £115 million and employed more than 500 across the UK. Intercept represented a good fit with Alternatives’ existing business adding capabilities which had taken Intercept years to develop.
- Spent time understanding the business and considered the option of a part sale rather than a full sale
- Identified and approached potential buyers including a number of overseas parties
- Selected a short list of final parties creating a competitive environment increasing the final price paid
- Positioned the transaction as the sale of IP defending against any profit related price reductions
- Led the preparation of the financial due diligence on behalf of the shareholders