Deal announcement: sale of Covue IT Ltd to Redsquid Communications Ltd

Published in Company Update by Emma Curtis on 30 July 2023

Kingsbrook is pleased to have advised Covue IT on its sale to Redsquid Communications Ltd.

You can read Redsquid’s announcement of the deal here.

Covue is a specialist IT services provider to the education sector, offering a wide range of services. The education sector is increasingly required to have more and more sophisticated protections for children and IT support in place, but many schools do not have the in-house capability or funds to support a full time IT member of staff. Covue has become the preferred outsourced solution.

Redsquid Communications is a provider of innovative solutions in IoT, Cyber Security, ICT, Data Connectivity & Voice. The company’s goal is to enhance efficiency, boost productivity, and reduce costs for customers.

Andy Hunt, a Kingsbrook Director and Lead Advisor on the project, said of the deal:

“Redsquid, as a company primarily serving the business community, saw an opportunity to break into the school’s market, being able to provide a significantly enhanced range of services and capabilities to a new client sector. This is an attractive and interesting business and sector for potential buyers. One where we attracted a lot of interest, with multiple offers, but Redsquid was our clients’ preferred buyer, as they felt that they provided the best fit both in ethos and future potential whilst embracing and looking after the Covue team.”

Jon Munt, co-founder of Covue IT said:

“The Kingsbrook team were a dream to work with. Selling a company is never easy or straightforward but we were guided and supported every step of the way. We definitely made the right choice with Kingsbrook. Andy especially was amazing and even when acquisition fatigue was setting in and frustrating moments arose he was calmly there to pick us up and work through solutions. We really felt he had our back and his knowledge, expertise and people skills were invaluable.”

 

Published on 30 July 2023 by

Emma Curtis

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