Trustmarque has today confirmed that it has been acquired by Liberata UK Limited.
The troubled firm will continue to operate as a separate entity, and its current senior management team, including CEO, Scott Haddow, and sales & marketing director, Angelo Di Ventura, will remain responsible for the company’s day-to-day operations.
Haddow and Ventura led a £43m management buyout of the company in June 2013. However, an apparent gap in Trustmarque’s accounts came to light last week, prompting rumours to circulate as to the firm’s future. It is understood its management team had been leading effort to drum up financial backing from other sources.
Following the news of the acquisition, Haddow downplayed talk of the crisis: “Although there has been speculation and uncertainty in the last week, we’ve simply had a change of investor,” he says.
“I’d like to thank our employees, customers and partners for their loyalty and support over the last week and now assure them that we are very much back to business as usual. We continue to be a successful and profitable business, and with the added expertise, customer portfolio and services that Liberata brings to the table, we will go from strength to strength.
“The strategic fit between the two organisations is excellent and as a result we are excited about the market opportunity that’s in front of us,” he adds.
Together, Trustmarque and Liberata have combined revenues in excess of £240m, employing 2,000 employees across multiple UK locations and a client base of more than 1,700 public and private sector customers.
Dermot Joyce, CEO of Liberata comments: “We are delighted to welcome Trustmarque, a profitable, hugely successful and cash generative business to the Liberata family. The acquisition creates significant value for Liberata and for all of our customers by connecting the ICT value chain. We see the advantages of the complementary service and solutions provided by Trustmarque and believe that together we can create an end-to-end proposition, for all of our client.”
