Business advisory firm Quantuma has advised the shareholders of Dorset-based IT distributor Spire Technology Limited on its sale to the Westcoast Group. The acquisition will unlock the next phase of Spire’s growth and add significantly to Westcoast’s components portfolio.
Spire Technology is a UK market-leading trade-only distributor of computer components and peripherals. The business was founded by Victor Unt and Geoff Fidler in 1989 and is now managed by John Appleton, as managing director. Operating from a 30,000 sq. ft. premises in Verwood, Dorset, the business offers over 2,500 products. Spire has more than 60 employees and generates an annual turnover in excess of £100m.
Quantuma managing director Mark Lucas, director George Jackson and assistant manager Tom Egan led the sales process for Spire on behalf of the shareholders. The Quantuma team advised on the business plan and market positioning, and undertook a strategic marketing process that generated significant interest and ultimately identified Westcoast as the preferred bidder.
Employing over 1,100 people and generating annual turnover of over £4 billion, the Westcoast Group is Britain’s largest privately owned technology group and is a leading distributor of IT brands to a range of resellers, retailers and office product dealers in the UK and Europe. Spire will become Westcoast Group’s main components pillar, with full access to all the customers, finance and tools that make Westcoast such a strong distributor in the UK and Europe.
John Appleton, managing director of Spire said:
“Mark, George and the Quantuma team were brilliant to work with and provided exceptional support throughout every stage of the process, making a complex process easier and more straightforward for the business and the shareholders. They took the time to fully understand our business and our market and were able to generate lots of interest from potential buyers. They were proactive throughout and were instrumental in finding the best home for our business and for getting the deal done.”
Quantuma director George Jackson commented:
“The Quantuma team is delighted to have advised the Spire Technology shareholders on this deal. They have built an absolutely fantastic business, which has found a great home to continue its journey with Westcoast. The transaction delivers continuity for Spire as part of the Westcoast group and will support the next phase of growth for the business.”
The Quantuma team worked alongside teams from Steele Raymond LLP who delivered legal advice, together with PKF Francis Clark who provided tax support. Additional tax and legal support was provided by colleagues from K3TA and Howes Percival LLP.
