SOLD TO:

Shift F7

INDUSTRY:

Technology, Media & Telecoms

Founded in 2005, Greencorn Ltd was a provider of customer-focused IT management services to small and medium-sized UK businesses. Greencorn was able to offer it clients a range of IT services that were normally reserved for larger companies.

Greencorn Ltd had enjoyed steady and effective growth in the short period since its launch. Keen to pursue other interests after ten dedicated years, Greencorn’s owner, Andrew Loftus, decided it was time for him to capitalise on his investment and sell the company. Mr Loftus contacted Avondale for help with marketing the business and preparing it for sale.

Avondale drove the sale project from the beginning, discreetly approaching a range of suitable would- be buyers from different areas of the IT industry. Through this strategy, Avondale quickly identified the buyers who stood to benefit most from acquiring Greencorn, and who would be willing to pay an above- market sale value for the opportunity. Having generated a significant amount of interest in Greencorn, Avondale secured several suitable early offers.

The Shift F7 Group, Greencorn’s ultimate purchasers, saw the acquisition as an opportunity to expand its customer base, resulting in a high-value majority cash-on-completion sale. Having initially served as a technical consultant with Shift F7 to ensure a smooth handover process for the company, Mr. Loftus was able to pursue other interests.

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