This is technology M&A deal number 541 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Mode Solutions Acquires eacs
Mode Solutions, founded in 1995, is based in Ware, Hertfordshire, England. The company has 85 employees listed on LinkedIn. Mode’s areas of expertise include Document Management Solutions, Unified Communications, and network services.
eacs, founded in 1994, is based in Huntingdon, Cambridgeshire, England. The company has 228 employees listed on LinkedIn. eacs’ areas of expertise include cloud services and cyber security for both Microsoft and Apple environments.
The acquisition was supported by a debt refinancing through BlackRock with additional acquisition funds available from both BlackRock and Connection Capital.
Past acquisitions from Mode include Nix Communications, which allowed the company to grow its unified communications and network services offerings. This latest deal will allow the company to expand into IT managed services, grow its geographic reach, and scale to more than twice its existing revenues, Mode said.
Mode now boasts three UK sites, a combined headcount of over 200 and a core customer base of almost 3,000.
In addition to its cloud services and security offerings, eacs is an approved supplier on the G-Cloud Digital Marketplace and NHS Shared Business Services – which provides back-office services including accounting, procurement, payroll and managed IT to National Health Services organizations.
Mode Solutions Acquires eacs: Growth Ambitions
Alex Tupman, CEO, Mode, commented:
“An acquisition of this size and quality further demonstrates our growth ambitions and evolution from our heritage, as well as delivering on our strategic objectives to offer a full trifecta of digital services to UK businesses from a single source with a reputation for providing an outstanding customer experience.”
Mark Snaith, investment director, Connection Capital, said:
“Mode has transformed significantly since Connection Capital’s initial investment in 2018 and its latest acquisition is a significant statement of intent as it executes on its buy and build strategy. Connection Capital focuses heavily on adding value to the businesses it chooses to partner with and it has been a pleasure supporting Alex and the team on what is arguably Mode’s most transformational transaction to date. The acquisition of eacs cements Mode’s status as a platform, poised to capitalise on a multitude of attractive growth opportunities.”
Kevin Timms, chairman and CEO, eacs, said:
“With companies choosing to accelerate IT outsourcing and digital transformation programmes in the wake of COVID-19, a true single-source supplier with exceptional service delivery will enhance customer experience. We believe Mode will provide the right environment for our customers and staff, particularly given the shared ethos of excellence in customer service.”