Computer Network Consultants Ltd

Meridian was delighted to advise the shareholders on the sale of their company Computer Network Consultants Ltd (CNC), an IT managed service provider based in Brighton to FluidOne, a connected cloud solutions provider, who are backed by Private Equity firm Livingbridge.

Established 27 years ago by co-founders Graham Lind and Gary Jowett, CNC offers a comprehensive suite of outsourced IT support services (including server management, performance monitoring, cybersecurity, and general day to day IT support) to small and medium-sized businesses across Sussex and Hampshire in the medical, construction, engineering, environmental, manufacturing, hospitality, charity work, and professional services sectors.

FluidOne, a distinguished provider of Connected Cloud Solutions, boasts a workforce of over 470 individuals spread across eight locations. At the core of its services lies the national fibre network, Platform One, which forms the backbone supporting 2,300 customers.

The acquisition by FluidOne forms part of its strategy to invest in regional IT managed service providers (MSPs) and establish a network of branches for localised services to SME customers.

Russell Horton, CEO at FluidOne said, “I am pleased to announce the acquisition of CNC, that builds on our strategy to create a branch network for expertly delivered IT managed services to business customers.

When reviewing the business, I was impressed with the excellent service they deliver and the strength of relationships that the team build with their clients. They are a great fit to our strategy, and I look forward to working with Graham Lind, Gary Jowett and the team to grow the Brighton business.”

CNC will function as a distinct branch with its dedicated management team. Co-founder Graham Lind will continue to lead as the Managing Director of the Brighton Branch, supported by co-founder Gary Jowett in the role of Operations and Marketing Director.

The newly established Brighton branch will report to Steve Brown, serving as the Managing Director of the FluidOne Business IT CoE. This organisational structure aims to provide customers with the advantages of local account management and engineering while benefiting from best practices and an expanded service portfolio under centralised leadership. Russell Horton, CEO of FluidOne Group, will assume the role of Chairman for CNC.

Graham Lind, Founder and Managing Director of CNC, said of the transaction, "Meridian helped CNC with the whole process, allowing us to select the right acquirer and driving a better return for the shareholders. They were supportive throughout the process and put in the extra effort when needed, so we would highly recommend them. The strong growth CNC had experienced over the previous years was recognised as an excellent fit by FluidOne and has given us the ambition to accelerate our growth and deliver quality services to even more local businesses.  The FluidOne team saw a great opportunity to continue to build CNC as the trusted local IT provider whilst benefiting from expert overlay in connectivity, mobile, Unified Communications and Cyber from the wider FluidOne group.”

Jeremy Over, added, “We’re proud to have been Computer Network Consultants Limited’s trusted adviser. We wish the business all the best as it enters this next phase of its life cycle, and we look forward to seeing its progress.”

The transaction was led by Philip Mettam, Director and Prabin Sunar, Associate Director at Meridian. Legal support was provided by Jeremy Over, Partner at Moore Barlow. Accounting support was provided by Cos Avraam and Chris Piccos of Avraam Associates. Tax support was provided by Cathy Revis, Partner at Fiander Tovell.