A Queen’s Award-winning provider of IT support and post warranty services headquartered in Leeds has been acquired by Swiss service revenue management company Annuity Management Group.
The Europlus Direct group of companies, which won the Queen’s Award for Innovation in 2008 and 2013, is based at Airport West with international offices in Las Vegas and Sydney.
Europlus Direct’s Jim Hart said: “We have enjoyed significant success over the last few years which has seen us expand internationally.
“Our vision has always been to provide global leadership in the simplification of IT support services and we are sure the acquisition by Annuity Management will help to achieve this goal and take the business to exciting new levels.”
Matthias Knaur, chief executive and founder of Annuity Management Group, added: “The acquisition of Europlus Direct is a great result for all involved. We look forward to driving the business forward and taking this opportunity to build on Jim and the team’s great efforts.”
A Mazars deal advisory team of Alex Baskeyfield, Jonathan Newton and Harry Radburn, based in Leeds, led the deal, while Richard Moran and Rachael Stockley of Clarion Solicitors provided legal advice to the shareholders. Europlus Direct will be added to Annuity Management’s portfolio of maintenance, licensing and service businesses
Alex Baskeyfield said: “This has been a great deal to work on and we are delighted to achieve a successful outcome for the shareholders of Europlus Direct.
“Whilst Europlus Direct has global operations, it is headquartered in West Yorkshire and it is encouraging to see the continued investment in the region from overseas acquirers.”
A team from Gordons led by James Fawcett provided legal advice to Annuity Management Group.