Moore Barlow has advised the shareholders of Matrix Business Group Limited on the sale of the business to Onecom Limited, as private equity-backed buyers continue to invest in the UK IT managed services sector.
Matrix Business Group, an IT managed services provider based in Hampshire, supports a range of business customers with IT support and managed services. The deal represents a significant opportunity for the business to benefit from enhanced investment and interaction within Onecom Limited’s broader managed services offering.
Onecom, one of the UK’s largest independent business telecoms and cloud communications providers, anticipates the acquisition will help create a leading IT managed services business, with strong potential for organic growth and cross-sell opportunities.
The UK managed services market has become increasingly significant, with nearly 13,000 managed service providers generating around £51 billion in annual revenue and supporting more than 340,000 jobs*. The sector has continued to attract investment and experience increased M&A activity as businesses look to simplify their supplier base and adopt integrated IT, cloud and connectivity services.
Moore Barlow’s Corporate Team, alongside colleagues from its Employment team, advised the shareholders on all aspects of the transaction, including drafting and negotiating the transaction documentation and coordinating the legal workstreams relating to the company’s operational and employment matters.
The firm also supported the shareholders through the due diligence and disclosure process and advised on a number of technical share capital matters to ensure the business was fully prepared for completion.
Nicholas Cronin of Matrix Business Group, said: “Selling the business was a significant step for us, and the process involved a high level of scrutiny. The Moore Barlow team were patient, knowledgeable and supportive throughout. They helped us navigate what could have been a difficult process and provided invaluable assistance in getting the deal over the line.”
Jeremy Over, Partner in Moore Barlow’s Corporate division, said: “We continue to see strong levels of activity in the IT managed services sector, particularly from private equity-backed buyers looking to build scale through acquisition. Deals like this often require close coordination across corporate, employment and wider advisory workstreams. Having teams within Moore Barlow that work seamlessly together allows us to support shareholders through what can be a complex process and focus on delivering the right outcome.”
The transaction highlights Moore Barlow’s experience advising shareholders and owner-managed businesses on M&A. The team deliver expertise in sectors undergoing consolidation, where buyers and investors are focused on scale, integration and long-term growth.
* UK Government, Research on the Managed Service Providers Market, March 2025.
Press mentions
Southern Daily Echo – IT firm Matrix Business Group acquired by Onecom Limited
Solicitors Journal – Moore Barlow advises on Matrix sale
Portsmouth News – Moore Barlow advises Matrix Business Group on sale to Onecom
Yahoo News – Law firm supports sale of Hampshire-based IT business
MSN UK – Law firm supports sale of Hampshire-based IT business
News Dump – Moore Barlow advises Matrix Business Group on sale to Onecom
