Codus Acquisition Enhances Everything Tech's M&A Strategy
Deal News | Nov 19, 2024 | Business Cloud
Everything Tech Group, a managed IT services company, has acquired Codus, a specialty provider of IT solutions for the architectural and construction industries. This acquisition is part of Everything Tech's ongoing M&A strategy funded in part by a NatWest loan. Codus, founded in 2008 by Lee Hunt, has a niche in the IT sector by offering tailored solutions that address the specific needs of architecture firms, including handling large design files and supporting hybrid work environments. The deal aims to expand Everything Tech's portfolio and enhance its offerings to UK architectural and construction firms. The partnership also marks another step in Everything Tech's aggressive acquisition strategy, following funding from BOOST & Co for previous acquisitions.
Sectors
- Information Technology (IT) Services
- Construction and Architecture
Geography
- United Kingdom – Both Everything Tech and Codus are based in the UK, focusing on delivering IT solutions across the country's architectural and construction sectors.
Industry
- Information Technology (IT) Services – Everything Tech and Codus both operate within the IT services industry, providing digital and technological solutions.
- Construction and Architecture – Codus specializes in IT solutions for architectural and construction sectors, addressing specific industry needs.
Financials
- 4.3 million – The amount raised by another company, Gendo, mentioned as context in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Everything Tech Group | Acquirer | Company | A provider of managed IT services founded by Mark Allen and Phil Smith. |
| Codus | Target Company | Company | An IT solutions provider for architectural and construction sectors, founded by Lee Hunt. |
| NatWest | Lender | Company | A major UK bank providing financial support for Everything Tech's acquisitions. |
| BOOST & Co | Investor | Company | An investment firm that supported Everything Tech's previous acquisitions. |
| Lee Hunt | Managing Director | Person | Founder and Managing Director of Codus. |
| Mark Allen | Founder and CFO | Person | Founder and Chief Financial Officer of Everything Tech Group. |