IT consultancy group Codestone acquires Cloud Business
Codestone Group has acquired Cloud Business, expanding its services in the area of cloud computing consulting and managed services. The move creates a combined firm with more than 300 staff, across nine countries.
Headquartered in Poole, UK, Codestone Group offers cloud computing business technology consulting, and the delivery of ERP, SAP and Microsoft solutions to mid-market and large enterprises across the UK and Ireland. With more than 700 customers, it is a previous winner of SAP Partner of the Year for Customer Service, and a Microsoft Gold Partner specialising in Modern Work, Azure, and Power BI.
With the backing of private equity firm FPE Capital, the firm is looking to expand its offering to clients around the world. In the last two years, this has seen the group treble its turnover, and now stands at 340 people across nine countries. The latest development in this process has seen Codestone purchase UK-based business consulting, digital transformation, and IT managed services leader Cloud Business.
Darryl Sackett, CEO of Codestone Group, commented, "We are focused on end-to-end value creation for all customers in all sectors and geographies who are trying to answer the question of how to do more with technology while staying secure. From the Digital Strategy, Edge computing, mission critical infrastructure and all processes that run any modern business, we guide organisations through this increasingly complex landscape. We unlock innovation and free up budget for our customers to reinvest. Cloud Business enables us to do this for more customers in a broader way with a strong cultural fit aligned to our core values.”
Based in Basingstoke, Cloud Business accounts for over 90 professionals delivering end to end digital transformation across Azure, M365 and Cyber. With Cloud Business, Codestone aims to further enhance its offering of IT consulting and services in Microsoft Azure, Microsoft 365, and Cybersecurity, while bolstering Codestone’s UK-based managed services team – recognised as leading by CRN.
James Palmer, chair of Cloud Business, added, “With a worldwide footprint, a dedicated team comprising hundreds of skilled experts, and a remarkable three-decade legacy in business technology consulting, Codestone provides Cloud Business a larger platform from which we can leverage our deep proficiency in IT consultancy and transformational services. The new organisation also significantly broadens the core capabilities we will be able to offer both new and existing clients. We are excited by the vision that Darryl and the Codestone leadership team have for the company and are thrilled to be part of the journey.”
Codestone was supported on the deal by a number of professional services firms. Stephenson Harwood provided legal support, debt advisory came from FRP Advisory Group, KPMG supplied financial due diligence, Armstrong completed customer referencing, and Shawbrook Bank also supported the deal. Meanwhile, Cloud Business was advised by FRP Corporate Finance, and took legal advice from HCR.
