Intec Microsystems has been acquired by private equity investor Chiltern Capital and its management team, with growth plans to exceed £100 million in the next 12 months.
As part of the deal, the previous majority shareholder, Dean Leather, will step down from his role and the business will continue to be run by existing directors, Andy Russell, Ian Whatton, John Lester and Stuart Hall. Industry veteran Alan Cantwell will join the Board as Executive Chairman to oversee Intec Microsystems’ next phase of growth.
Leather said that having founded Intec 20 years ago and seen it deliver fantastic growth over that period, now is the time to pass on the baton.
“I know that with Cantwell and Chiltern providing additional support to the highly capable team, I’m leaving Intec in great hands and with people who will take the company to the next level,” he said.
With the investment from Chiltern, Intec Microsystems is embarking on a growth offensive, according to Cantwell, who has worked in the IT distribution channel for more than 40 years.
“We don’t want to be the best-kept secret anymore. We work with some amazing challenger vendors and we’re moving up the value chain. Our goal is to deliver growth by working in close collaboration with our vendors and expanding our product and services offering to best serve our customers.”
Intec Microsystems is already bolstering its vendor portfolio with five new manufacturers due to be revealed over the coming months. With the addition of these new vendors and a revitalised sales and marketing strategy, the company intends to boost its current 2,500 customer base by targeting the 8,000 VARs operating in the UK.
As part of its expansion plans, Intec Microsystems will focus on recruitment as well as training and developing its existing team members, according to Cantwell.
“Our management team and staff have the knowledge and expertise for growth. We’ll fill any gaps in the business by recruiting more expertise and with the investment we now have, we can afford to be more competitive in the market,” he added.
Joe Bennett, Investment Director at Chiltern Capital, said he has admired Intec Microsystems for a long time. “It has delivered impressive growth in recent years, and we are confident that with the combination of the existing management team supported by Alan’s deep sector experience, the business is well positioned for the future.
