Disposal of Keltec Ltd

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Disposal of Keltec Ltd 2017-06-06T10:54:34+00:00

Project Description

Disposal of Keltec Ltd

keltec-logo-portfolioHMT LLP, led by Tax Director Holly Bedford, advised the shareholders of Keltec Ltd (“Keltec”) on the disposal of Bracknell-based IT solutions provider, Keltec to Annodata Ltd (“Annodata”).

Annodata, a leading provider of communications, managed print and data services for businesses, has acquired IT infrastructure provider, Keltec as part of its continued expansion into the cloud arena.

Founded in 1998, Keltec delivers end-to-end IT solutions to customers of all sizes nationwide. The company holds a range of industry accreditations, including HP Gold Partner, VMware Enterprise Solution Provider and Veeam Gold Pro Partner status, and stands as one of HP’s top 30 partners in the UK.

The acquisition is Annodata’s first expansion move following its appointment of Martin St Quinton as Chairman, who has led numerous successful enterprises in the technology sector. Keltec, which has annual revenues in the region of £15 million, will enhance Annodata’s hosting capabilities and consolidate its move into cloud. The trading entities will be maintained and will become wholly owned by Annodata Limited. As a result of the acquisition, Annodata will have annual revenues in excess of £78 million and 380 employees.

HMT Tax Director Holly Bedford provided tax advice to the Keltec shareholders.

Brian Griffiths commented:

“I am delighted that we engaged Holly Bedford and HMT to act as advisor for this transaction. Holly’s advice and professionalism ensured a smooth and efficient transaction for all parties concerned.”

Holly Bedford commented:

“It was a pleasure to work with the Keltec shareholders; I wish them continued success in the future.”