DEANS Computer Services, a West Yorkshire-based IT support company, has undergone a management buyout in a deal worth a seven-figure sum.
The company, which has an annual turnover of more than £3m, serving small and medium-sized enterprises with its IT-related products and services, employs 40 people at its headquarters in Boston Spa.
DCS, which was established in 1982, has among its client base Huddersfield Town Football Club, Harewood House, Clipper Group and the Caddick Group.
The management buyout team that will now lead the business comprises managing director Patrick Clayton, marketing director Suzanne Cowling and software director Sandra Marshall.
In addition, Chris Lord has been appointed as technical director, a promotion from senior engineer.
Mr Clayton said: “Over the last 30 years, DCS has established a strong reputation in its field based on outstanding customer care and we aim to build on this and cement our position as one of the leading independent accounting software and IT support companies in the North.
“This acquisition marks another key milestone in the development of the business.”
The deal sees the firm’s founders, Peter Rogerson, Peter Lichtarowicz and Malcolm Rogerson, hand over their stakes in the business to the management team. Peter Rogerson will continue in his role as chairman of the new company. Former joint managing director Andrew Tones retains a directorship.
Grant Thornton’s transaction tax team in Leeds helped management in structuring the transaction, with legal support from Steel & Co Solicitors.