Panoramic acquires CMI, bolts on BTA

The firm drew equity from its Panoramic Growth Fund II, which closed on £65m in 2016. CMI is Panoramic's 12th acquisition from the fund.

The firm stated it will support further acquisitions for the company in the future.

The combined company will generate a turnover of more than £11m with a headcount of 100, according to a statement.

The deal was sourced through a meeting at the Kaseya annual European user conference, Connect IT Europe.

Company
Based in Belfast and founded in 2009, CMI offers development and support for IT systems. The company operates further offices in High Wycombe, Bracknell and Westminster.

Based in London, BTA provides IT support, security and compliance, as well as disaster recovery, cloud technology and internet services. Founded in 1994, the company employs 50 people.

People
Panoramic Growth Equity – David Wilson (partner).
CMI – Ken Roulston (managing director).
BTA – Richard Taberner (managing director).

Advisers
Equity – Addleshaw Goddard (legal); Consilium Chartered Accountants (financial due diligence).
Management – HNH (corporate finance); Edwards & Co Solicitors, Sarah Burrows (legal).

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• Topics
• Buyouts
• Expansion
• UK / Ireland
• Technology
• Build-up
• Buy-and-build
• United Kingdom
• Addleshaw Goddard
• Consilium