We are pleased to announce that the Corporate and Commercial team, led by Jeff Rubenstein, has, despite the COVID-19 virus, completed a corporate sale for the Sellers/Shareholders of ITEC Connect Ltd.
ITEC has been sold to the widely known printer manufacturer and tech services company Xerox. Having acted for ITEC since its inception in 2010, Jeff attained the role as Lead Relationship Partner on this 10 year journey, helping them on a buy and build strategy which grew ITEC into a £50 million turnover business, and culminated in a sale to Xerox last week.
ITEC are leaders in managed print services and specialists in IT services. This acquisition, together with two other deals completed by Xerox since January, will see Xerox expand into an area where they are rapidly expanding with new offerings.
Lawrence Stephens team members on the deal included Katherine Zangana and Aashay Knights, whose attention to detail and stamina has been relentless. Our Corporate and Commercial team in London has forged a reputation, with particular expertise in acting for clients who are looking to build and develop their businesses, and achieve an exit.
Commenting on the team’s success, Jeff Rubenstein, Partner, Company and Commercial, said:
“Having acted for the Sellers/Shareholders over the last 10 years we have developed a very close working relationship with the Shareholders and the Management Team and were delighted to have been with them for the entire journey. During this time we have provided ITEC with a full service. This was an extremely complex deal with a number of different moving parts that needed to be carefully managed and coordinated within a very tight timescale and deadline. Our hands on teamwork approach enabled us to work within those demands.”
Nick Orme, CEO, ITEC, has commented:
“Our ambition is to deliver the latest innovation and technology to help businesses work smarter. Together with Xerox, we’re in a prime position to offer workplace solutions that evolve and support SMBs as they seek growth.”
We would like to extend our congratulations and thank all teams involved for their hard work and perseverance. We wish ITEC and Xerox the very best for their future and wish them every success.
Lawrence Stephens has maintained its position as top legal and commercial advisers to companies looking to grow and strategically develop their business through acquisitions and consolidation, with a view to achieving an exit strategy for its owners and management. If you would like to hear more about how our Corporate Team can help you achieve your goals for your business, please get in touch with Jeff Rubenstein to discuss your plans.