Deals

We have worked with Catalyst for a number of years and we have now come to expect the commitment and high standards they deliver. However, on this transaction they have even managed to surpass
James Bird, Chief Executive, Stone Computers

Completion Date
April 2008

Transaction Type
Management Buyout

Transaction Value
£28 million

Lead Partner
Andy Currie
Telephone +44 121 654 5000

Background
Catalyst advised Stone Computers (Stone) on a secondary management buy-out supported by RJD Partners in a deal valued at £28 million. Based in Staffordshire and employing nearly 200 people, Stone is a leading IT provider to the public sector, configuring servers, desktop PCs and notebooks to order. The company sells to a variety of clients within the public sector, with a specific focus on schools, higher and further education. Stone has also won a number of prestigious awards including best overall brand in the BECTA annual surveys, the government agency for IT strategy in schools.

What Difference Did We Make?
Following the successful acquisition and integration of Compusys in 2007, the management team identified a number of opportunities, both internal and external, which would significantly accelerate the growth of the business. However, these opportunities would require access to further capital. With the incumbent investor unable to provide additional funding at that time, we were appointed by Stone management to seek a replacement funder, and our sector knowledge identified RJD Partners as a willing and capable partner. We then project managed a secondary management buy-out funded by RJD to completion, working alongside management to deliver a credible and thought-through business plan which highlighted how Stone would take advantage of the market opportunity available to them.