Trustmarque acquired by Capita
Endless announces that Ardbid Ltd has sold Trustmarque Solutions Ltd, part of the Liberata Group, to Capita plc for an equity value of £57m.
Trustmarque, the award-winning technology business, delivers integrated services that support UK private and public sector organisations through every step of the IT investment process, from solution development through technology provision to deployment and on-going support.
Following the buyout of Liberata in 2010 and the successful turnaround of the company by Dermot Joyce, Group CEO, and his management team, the private equity company Endless LLP initiated and supported the subsequent acquisitions of Trinity and Trustmarque in 2013 and 2014 respectively. These businesses were merged and consolidated with Liberata's own IT business to create a new, enlarged Trustmarque business under the leadership of Scott Haddow.
Following the successful sale of Trustmarque, Liberata will continue to focus on winning new contracts, following significant investment to successfully expand its public sector services under the leadership of Charlie Bruin, CEO of Liberata UK Ltd.
James Woolley said: “We are immensely proud of what has been achieved at Liberata. The new, enlarged, Trustmarque business was created by Endless’ delivering two acquisitions, in Trinity and Trustmarque, in extremely short timescales and under difficult circumstance, perhaps in a way that only Endless can. We have then worked successfully with Dermot and Scott and their respective teams to deliver what is a great outcome for our investors and the other shareholders in the Liberata group.”
Dermot Joyce commented, “We wish Scott and the team well. They have done an excellent job in integrating three businesses into a new market leading company and, with Capita’s support I am sure they will go from strength to strength. The core Liberata business under Charlie Bruin’s management continues to grow and has some exciting new revenue areas with significant potential which we are aggressively pursuing”.