Background
- MJ Flood Technology Ltd (MJFT) is one of the leading independent IT service providers in the Irish market
- MJFT is a key provider of managed services, professional services and IT infrastructure, providing broad expertise across the Microsoft stack
- Its portfolio of services includes cloud and hybrid solutions, security solutions, digital transformation design and implementation
Process
- DC Advisory was engaged as exclusive sell-side financial advisor by MJ Flood Group, to advise on the disposal of its subsidiary, MJFT
- DC Advisory ran a targeted process, leveraging its deep sector expertise and relationships
Outcome
- Viatel Technology Group, a portfolio company of Macquarie, agreed to acquire MJFT in April 2024
- Financial terms of the transaction were not disclosed
- This transaction further illustrates DC Advisory’s expertise in the IT services sector
- The closing of this transaction is subject to regulatory approvals
“DC Advisory (IBI Corporate Finance) were the MJ Flood Technology advisors of choice for this transaction due to their extensive sector experience. David Lyons, Michael Moriarty and the team at DC Advisory, supported and guided us through each stage in the process, from the upfront detailed preparation through to final outcome. We are grateful to the DC Advisory team for their relentless effort culminating in the acquisition of MJ Flood Technology by the Viatel Technology Group. We are excited to have found a partner with similar values and ethos that allow us to thrive in the next chapter.”
“It was a pleasure to have supported MJ Flood Technology in this transaction. James and the team have developed a highly regarded business and now, combined with Viatel, are well-positioned to deliver a unique platform offering solutions across cybersecurity, cloud, networking, and Microsoft solutions. This transaction further highlights DC Advisory’s extensive experience in the IT services sector.”
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