Capita has sold off IT reseller and solutions provider Trustmarque to private equity firm One Equity Partners for £111 million.
For those not in the know, Trustmarque provides managed services and hardware re-sale and was first purchased by Capita in 2016 for £57 million.It has Microsoft, HPE, AWS, IBM, Dell among its vendor partners and had net reported revenue of £122 million in 2020, Capita said.
Capita has been selling off what it calls “non-core businesses” to strengthen its balance sheet and to achieve a target of £700 million of proceeds from disposals.
Mid-market investor One Equity Partners has a history of investing in channel businesses on an international level. It funded US reseller CDI in 2019 and has previously invested in European resellers including Italian VAR Lutech and Norway-based software reseller Crayon.
Capita also added that Trustmarque’s senior management team and employees will remain with the business.
