Funding from Leeds private equity house Endless LLP has helped Liberata UK Ltd to acquire York-based Trustmarque Solutions Ltd.
Trustmarque, a technology reseller to the public and private sectors, was reported to have been given until this week to find a backer or face formal insolvency proceedings.
Trustmarque will continue to operate as a separate entity and its current senior management team, including CEO Scott Haddow and sales and marketing director Angelo Di Ventura, will remain in place.
Mr Haddow said the business was still profitable and that it was a return to business as usual.
“Although there has been speculation and uncertainty in the last week, we’ve simply had a change of investor,” he said.
Together, Trustmarque and Liberata have combined revenues in excess of £240m, employing 2,000 employees across multiple UK locations and a client base of more than 1,700 public and private-sector customers.
Endless first invested in Liberata, which provides business process services to the public sector, in 2010 and last year supported its acquisition of IT and cloud services provider Trinity Expert Systems.