BLP advises Streamwire on its acquisition of EACS
International law firm Berwin Leighton Paisner (“BLP”) has advised award-winning managed services provider Streamwire (“Streamwire”) on its purchase of market rival EACS, and subsequent formation of a larger company, trading as EACS. The combined company will have revenues of just under £20m, and is the second large acquisition in the last five years by Streamwire, following the 2015 acquisition of specialist technology business, EvEnt Computer Services.
The new combined company will focus on professional managed solutions in the IT sector, particularly on cloud based solutions and cybersecurity, whilst maintaining their reputation for market-leading support services.
Kevin Timms, who co-founded Streamwire with Anne Stokes, will become the new CEO of the combined company. Commenting on the acquisition and BLP’s role, Kevin said: “Our acquisition of EACS provides the platform to take our business to the next level, expand into the cloud and cyber security spaces and take on the established IT suppliers. Both are award winning companies, with fantastic service and skills, and each brings different capability that will benefit our clients. In working with us on this acquisition, BLP were excellent throughout: highly professional, committed and great to work with.”
As lead partner on the transaction, Michael Anderson commented: “The UK tech sector continues to be a hive of activity across deals of all sizes. As its most significant transaction to date, Streamwire’s acquisition provides it with a strong base from which the Company can grow.”
The BLP team supporting Michael included Streamwire Client Relationship Partner Mark Lewis, Corporate Finance Associate Caroline Stocks, Partner Daisy Reeves and Associates Brad Pawlak and Natalie Graham in Banking, Real Estate Partner Matt Peel and Associate Jasmine Chaytor, and Tax Associate Alexander Makinson.