DTE Corporate Finance advises on IT deal in North West

28 November 2019 Consultancy.uk 3 min. read

Titan Netwok Services has been purchased by IT solutions consultancy inTec for an undisclosed fee. Advisors from DTE Corporate Finance supported the sell-side of the deal, acting as lead advisor to the shareholders of Titan throughout the process.

Originally proposed by the 2010 Coalition Government, the Northern Powerhouse scheme aims to bolster historically neglected regional economies beyond London, particularly in the "Core Cities" of Manchester, Liverpool, Leeds, Sheffield, Hull and Newcastle. As a result, the North West has become a major attractor of investors – last year the region brought in a venture capital haul worth £122.2 million – and a tech hub, particularly in the Greater Manchester area.

Based in Altrincham, Titan Network Services specialises in delivering complete IT solutions to businesses in the city centre as well as the surrounding locations. The Manchester-based IT services firm has over 20 years of experience in the region’s technology industry and has supported businesses in a wide range of sectors from engineering to legal services.

DTE Corporate Finance advises on IT deal in North West

Attracted by the firm’s long-term success, as well as its ties to the North West’s burgeoning technology sector, Titan has been acquired by inTec for an undisclosed fee. The transaction, which reportedly closes for a seven-figure sum, sees the provider of technology-related consultancy services and solutions to B2B clients purchase Titan in a bid to strengthen its foothold in the region. Following the sale, Titan Network Services Founder Mick Satiar will remain with Titan as a Director.

Commenting on the deal, Satiar said, “Titan has over the last 12 years built an impressive reputation and together with fellow Director, Garry Grimshaw, we have built a client list that we’re very proud of. It is important that our new owner shares our ethos and commitment to excellent customer service and I’m confident that inTec is the perfect business to take Titan forward. It is an exciting time for Titan and our customers and employees. InTec is an excellent company and we are very pleased to do the deal.”

DTE Corporate Finance acted as lead advisor to the shareholders of Titan Network Services in its sale, with a team comprising Matt Beckley, Lewis Pearson and Luke Seymour supporting the deal-making process. The vendors were also assisted by Victoria Zivkovic and Gregory Mazgajczyk of Irwin Mitchell Solicitors, while Squire Patton Boggs advised the buyers.

Matt Beckley, Partner at DTE Corporate Finance commented, “We are delighted to have sourced and advised the shareholders on this successful transaction. Titan will make an excellent strategic and cultural fit. I can only see the combined businesses flourishing.”

Earlier in 2019, DTE Corporate Finance was tapped to support the investment made by Maven Capital Partners into Relative Insight, a Lancaster-based language understanding business. As part of the deal facilitation, Maven Capital Partners instructed DTE Corporate Finance to carry out a financial due diligence. The result of this successful deal led to Relative Insight securing £4 million in funding.