Moore and Smalley advises on IBEX sale
Moore and Smalley has advised on a corporate deal which has seen a growing North West document storage and records management company acquired by a global business.
Preston-based IBEX has been bought out by Recall Holdings Limited, a world leader in information management based in Georgia in the United States.
Recall announced the deal alongside a further acquisition in the United States in a move that supports its corporate growth strategy and enhances its footprint in key markets.
IBEX is a leading archive storage, document storage and records management company with operations across the UK. Founded in 1994, the company has developed a reputation for excellence as a provider of document management solutions, data protection services and digital solutions.
The shareholders of IBEX were advised on the sale of the business by Moore and Smalley’s corporate finance team.
Legal advice to the sellers was provided by a team from Napthens solicitors headed by corporate partner Rob Dobson, together with Benjamin Dredge and Edward Hamilton of the corporate team, and Stacey Carter of the employment team.
Ian Waddingham, corporate finance manager at Moore and Smalley, said: “IBEX is a great local success story, a business that was built up from scratch that can now look forward to a very successful future as part of a global business and brand.
“Outsourced business services continue to thrive, and within this sector records storage and document management continues to show strong growth. There appears to be plenty of appetite for deals and I would expect to see further M&A activity in this market in the coming months.”
As well as Ibex, Recall has acquired Media Services, a prominent records management company located in Kansas City. It represents a new market for Recall to provide customers with document management solutions and digital solutions, while expanding the company’s capabilities in data protection services and secure destruction services.
“Acquisitions are an important part of Recall’s strategic growth plans and will further enhance our market position as a global leader in information management,” said Recall’s President and Chief Executive Officer, Doug Pertz. “Recall is excited to provide our innovative and leading-edge information management solutions and outstanding customer service to IBEX and Media Services’ customers.”