One Equity Partners To Acquire Trustmarque
New York-based One Equity Partners is buying Trustmarque, a London-based provider of IT solutions and services including software and hardware re-sale, from London-listed corporate parent Capita Plc.
“Trustmarque is well-positioned to benefit from the growth in cloud-based software sales and the ongoing digitization of the public sector,” said Andrew Dunn, Managing Director at OEP. “We are proud to partner with Ben Richardson as CEO and the entire Trustmarque team, and we look forward to leveraging our experience from past investments in IT services businesses to strengthen the Company’s capabilities in order to offer customers a wider range of value-added services.”
The deal is worth £111mn on a cash free, debt free basis. Taking into account cash-like and debt-like items, Capita expects to receive net proceeds of c.£115mn at completion.
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