Cardiff-based eLINIA, one of the fastest growing IT infrastructure outsourcing specialists in the UK, has been acquired in a £13m deal by Adapt.
The business was founded in 2004 and delivers secure infrastructure services to clients across a range of industries.
Adapt’s acquisition is the first in a planned series of deals which will drive its medium-term growth strategy.
The combined annual turnover of the enlarged business will exceed £50m. The deal also provides Adapt with access to data centre facilities in Cardiff, Newport and Slough.
Chief executive of eLINIA John Jones said: “This is an exciting move for us, from both an employee and customer perspective. Adapt is a perfect fit for eLINIA and provides a fantastic platform for us to continue to do what we are best at – but on a far larger scale.
“Our customers trust us to deliver deep technical expertise, continuous innovation, outstanding customer service and security – we know that Adapt will only add value to these long-term relationships.”
Chief executive of Adapt Stewart Smythe said: “We are delighted to be joining forces with eLINIA.
“Our ongoing strategy is clearly focused on becoming the UK’s go-to provider of pure play managed IT services – this acquisition will give us the scale, strength and breadth of offering to accelerate this journey.”
Cardiff-based Gambit Corporate Finance acted for the shareholders of eLINIA on the deal. A number of potential bidders for the business were identified.
As well as Mr Jones, other shareholders in the business included Stephen Jones, Paul Guy and Paul Twamley.
Adapt received £30m in funding from independent private investment house Lyceum Capital Partners.
