Southeast law firm Moore Barlow’s corporate team has advised Windsor-based data, security and cloud technology consultancy Spinnakar on its sale to US-based Wayside Technology Group in a deal that values the business at £9.8M.
Spinnaker is an IT channel distributor that connects an extensive network of cloud, security and data management vendors to end users, helping them to establish a customer base across the EMEA marketplace.
New parent company Wayside Technology Group is based in New Jersey, United States, and is valued at $131.4m (£113m) on NASDAQ. It confirmed that Spinnakar’s founder and CEO Gerard Brophy would continue to lead the firm’s operation, integrating its network with Wayside’s existing business units Climb and Grey Matter.
Commenting on the acquisition, Brophy said: “We are thrilled to join forces with the Climb Global Solutions and teams and look forward to scaling the integrated business across EMEA. Both organisations have very similar DNA with our focus on emerging technology products and services. As a new member of the team, I plan to further expand our line card through our combined expertise and shared vision of bringing new, innovative companies to market through our global network.”
Brophy added “I would like to thank Jeremy, Gemma and the rest of the team at Moore Barlow who worked tirelessly to get the deal over the line.”.
The team at Moore Barlow was led by Jeremy Over, partner in the corporate team at Moore Barlow and also included Gemma L’Esperance (Trainee Solicitor, Corporate), Chelsea Feeney (Solicitor, Employment) and Quintin Farley (Solicitor, Commercial).
He added: “Spinnakar is another example of the abundant potential in the UK tech sector that is attracting big buyers from all over the globe. The acquisition by Wayside is the perfect marriage of Spinnakar’s proven track record in IT service distribution and the scale and investment potential of an international tech player.
“The UK tech scene is vibrant at the moment and that is reflected in a fast-moving adjoined M&A landscape. Whether it’s companies like Spinnaker with an established offering or the emerging vendors that are constantly evolving the sector, there is huge overseas appetite to invest in the UK’s tech entrepreneurs.”
The Spinnakar deal is the second acquisition of a UK tech firm by a US buyer that Moore Barlow has advised on in less than a month. In August, the firm supported Berkshire-based IT and cloud infrastructure consultancy Q Associates on its acquisition by global tech solutions firm Logicalis.
The 22-strong corporate team at Moore Barlow is one of the largest in the South of England. With offices in Guildford, Southampton, Lymington, Working, Richmond and London, the team supports clients in London and along the M3 corridor, as well as around the South Coast.