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New Deal


Announced

Air IT to acquire Riverbank IT Management and Nexus GS.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Domestic

Pending

IT Services: Other

United Kingdom

managed it services

Acquisition

Majority

Private

Friendly

Single Bidder

Synopsis

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Air IT, a provider of managed information technology support, digital transformation services and cybersecurity, agreed to acquire two managed IT services providers Riverbank IT Management and Nexus GS. Financial terms were not disclosed. "Following the recent announcement of Netstar and Microtrading, we are very pleased to be able to welcome Riverbank and Nexus GS to the Air IT family. Both businesses bring significant value to the table and will be integral in helping us realise our plans to grow and cement our position within the SME space of the outsourced IT services market in the UK. Both are highly accredited MSPs and will be a great fit for the Air IT group with similar values, culture and commitment to helping clients become more successful and efficient through technology," John Whitty, Air IT CEO.

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