Calyx Managed Services has been sold to MXC Capital for £9 million, the deal likely signals the break up of the business.
Calyx MS is indeed known to MXC – managing partners Ian Smith and Tony Weaver sold the integration division of Matrix Communications to Calyx in 2006 for £40.5m.
With a history of buy and build, Smith and Weaver have a track record of breaking up acquired businesses by either selling off parts or closing down divisions.
“Calyx is a well established business delivering a broad portfolio of ICT solutions to an impressive roster of customers. We know the Calyx business well and it operates in market we are already active in,” said Marc Young, CEO at MXC, in a stock market filing.
Calyx has three basic operations: managed services, break fix and WAN reselling. It employs around 200 staff. It has a satellite sales office in London and a service repairs centre in Hyde.
In the most recent filing at Companies House for 2013, revenues had slipped to £23.9m and it reported an operating loss of £4.25m, but after interest the retained loss for the year was £7.3m.