2E2 Announce Offer For Compel Group Plc

2e2 has made a recommended cash offer for Compel Group plc for £53 million. Compel is a UK based IT solutions business, comprising two principal businesses; Enterprise Solutions (sophisticated, complex and large scale IT solutions) and Short Term IT Rental Solutions. Compel was established in 1987 and was listed on the London Stock Exchange in September 1994.

Compel’s Enterprise Solutions division provides large scale, complex and sophisticated IT solutions, including consulting, design, supply, implementation and comprehensive long term support. The Company’s Short Term IT Rental Solutions division (branded Hamilton Rentals) is an IT rental business.

Eric Priestley, Non-executive Chairman of the 2e2 Group said, “We are delighted to announce this transaction which brings together two strong and established names in the IT services industry and creates a platform for further growth for the enlarged group. We believe this creates an exceptional opportunity to engage more broadly with our customers and create a compelling force in the UK market. We look forward to welcoming the employees and customers of Alpha into the 2e2 Group.”

Since its formation, the 2e2 Directors have established a group capable of delivering a broad range of managed services solutions in the UK. In order to achieve this objective, the 2e2 Directors have identified and completed a number of acquisitions of complementary businesses and have then sought to maximise their organic growth potential in the context of a broader group structure.