Management buyout secures succession at Cheshire IT support firm

A management buyout has completed at Cheshire-based iTG Technologies, enabling its founder to step back. 

Based at Amtri House on Hulley Road, Macclesfield, iTG provides managed IT support, cloud services, cyber security, telecoms and web services to customers across sectors including professional services, retail and healthcare. 

The company, established by Simon Spurrell in 1998, employs 11 people.

The transaction enables Spurrell to step back with directors Shaun Williams, Stephen Honeyford and Ben Marshall taking ownership.

CN Corporate Finance, led by partner David Baggot, supported the seller on the deal, providing ongoing guidance and advice throughout.

Simon Spurrell said: “Stepping back from a business that I have been involved in for nearly 30 years was always going to be a big decision. However, after so many years building iTG, it feels right to now pass ownership to Shaun, Stephen and Ben.

“Each of them has been a vital part of iTG’s growth, and I know it is in capable hands as it now enters its next phase.

“I’ve also known Dave and the CN team for several years and really valued their advice throughout the sale. Even in a transaction such as this, where all parties are on the same page, selling a business is a hugely complicated and emotional process. The CN team was always available to give clear, practical advice when needed most.”

Marshall added: “After a combined 65 years at iTG, we know the business incredibly well and are excited about the opportunities ahead. With demand for high-quality IT support, cloud services and cyber security continuing to grow, we believe there is a great opportunity to take iTG forward.

“Taking this next step as directors and owners is something we’re incredibly proud of, and we’re excited about the responsibility of taking iTG forward together. Our immediate priority is to ensure a seamless transition for our customers and colleagues, while continuing to provide the high level of service they expect from iTG. At the same time, we’re excited about the opportunity to develop our services, attract new customers and continue growing the business.”

Dave Baggott said a well-established management team gives an owner a “strong succession option they can be confident in, but there is always plenty to work through to reach an agreement”. 

He noted: “Our role was to help Simon navigate the complexities of the transaction and achieve a successful handover to the new management team. We have helped secure a positive outcome for all parties and wish him and ITG’s new owners all the best in this new chapter.”

Gorvins also provided legal advice to the seller.