New deal creates £60m revenue and most awarded Microsoft Partner in the UK
IT Lab, the technology services and solution provider behind McLaren F1 sports cars and the British Paralympics Association, has today announced the acquisition of Microsoft 2018 Worldwide Partner of the Year, Content and Code.
The new combined business has a turnover approaching £60 million, boosting the IT Lab team from 450 to more than 550 employees operating globally from London, Manchester and Cape Town, serving more than 700 mid-market and enterprise clients.
IT Lab is backed by private equity firm ECI Partners, which typically invests in deals valued up to £200 million and acquired a majority stake in IT Lab in 2016.
In May 2017, IT Lab followed this with the acquisition of cyber security specialist Perspective Risk, making Content and Code the second of a number of planned acquisitions by IT Lab.
The details of this most recent transaction have not been disclosed.
IT Lab Chief Executive Peter Sweetbaum, a former Cabinet Office technology advisor, remains in the top job.
Tim Wallis, founder of Content and Code takes on the role of Chief Digital Officer of IT Lab and will lead the future relationship with Microsoft.
Content and Code was advised by Oakley Advisory Limited and law firm Charles Russell Speechlys, while IT Lab was advised by law firm Squire Patton Boggs.
The combined business creates a Microsoft partner which is now capable of delivering a full portfolio of professional and managed services across the core Microsoft technology stack of Office365 and M365; Azure, Dynamics 365 and SharePoint.
Together with IT Lab’s cyber security offering and Content and Code’s Enterprise Mobility and Security capabilities, the combined proposition is industry challenging through its scale and range of capability.
Clare Barclay, Chief Operating Officer of Microsoft UK, said: "I’m excited by the coming together of Content and Code and IT Lab and the combined proposition this will bring for helping customers digitally transform their business. I look forward to continuing their long-standing partnership with Microsoft.”
Craig Fellowes, Productivity Sales Director of Microsoft UK, added: “Content and Code has been one of our strongest and most trusted partners for as long as I can remember and has continued to set the benchmark for excellence in Modern Workplace."
Fellowes continued: "This, coupled with IT Lab's domain and industry expertise make this is a very promising combination to provide our customers an even more complete solution and support. This new partnership will undoubtedly provide our customers with an additional and credible option to consider when choosing who they want to help migrate, deploy and manage their desktop environment.”
As well as McLaren F1 and the British Paralympics Association, the combined business provides services across the mid-market and enterprise space including clients such as: Serco, Heathrow, Mott Macdonald, NSPCC, Whitbread Group, Theramex, British Engineering Services, Phaidon and Keolis Amey.
IT Lab Chief Executive, Peter Sweetbaum, described the deal as "transformational" for IT Lab and Content and Code, adding that it would improve on Content and Code's already industry leading excellence in key Microsoft propositions, including Office 365 and SharePoint, along with IT Lab’s managed, cyber and infrastructure services.
Sweetbaum added: "Content and Code has grown strongly and profitably over the last few years due to their depth and breadth of skills, accreditation and experience. They are regarded exceptionally well by Microsoft and their clients for their distinct expertise in key technologies that companies require for transformation and operating in the future.”
Tim Wallis, founder of Content and Code, added: "The demand for IT services is growing at a rapid pace and we had been looking to join forces with another organisation for some time to take advantage of the opportunity.”
Wallis said: "Finding an organisation which could not only help us compete with the bigger providers in the market, but which also shared the same vision, ethos and culture as Content and Code was a challenge until we began talks with IT Lab. It is clear that this new partnership shares all the ambitions and values that we wanted."
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About IT Lab
IT Lab is an award-winning IT support and managed services provider (MSP) and is currently ranked within the top five European and top 50 global MSPs. Leveraging its 24/7 IT managed services, hybrid cloud solutions, cyber security, ERP implementation, technology transformation and change portfolio, IT Lab is focused on helping clients operate anywhere, from any device, at any time.
IT Lab is one of the largest MSPs in the UK with offices in London, Manchester and Cape Town. Like Content and Code, the company is recognised for its working culture and has featured for several years in the Sunday Times ‘100 Best Companies to Work For’.
About Content and Code
Content and Code is the UK's largest SharePoint consultancy and Microsoft’s leading Office 365 partner. In 2018 Content and Code was named Microsoft Partner of the Year for Customer Experience and became a Microsoft Partner of the Year finalist in the “Modern Workplace Teamwork” category.
Built on SharePoint, Microsoft Online Services (Office 365) and other key Microsoft platforms, Content and Code enables organisations to increase revenues, reduce costs, mitigate risk, work more efficiently and create a competitive advantage.