York-based IT firm Trustmarque Group and Reading-based Ultima Business Solutions said they have agreed to merge.
The proposed merger will continue to be supported by private equity firms One Equity Partners and Apse Capital. The deal is expected to complete within the next few weeks.
Simon Williams of Trustmarque will become the group’s CEO, with Jamie Beaumont of Ultima as chief financial officer, supported by an integrated leadership team.
“The transaction will mark a transformative milestone, bringing together a combined Gross Invoiced Income (GII) expected to reach one billion pounds,” said Trustmarque.
“With a proposed unified workforce of over 1,000 employees, the combined business will be poised to unlock greater innovation, agility, and market impact.
“This planned strategic alignment not only strengthens operational capabilities but also sets the stage for bold growth, deeper customer engagement, and a shared vision to lead the industry with purpose and performance …
“Together, the combined businesses will provide a comprehensive portfolio of expert driven, end-to-end IT solutions and managed services with pioneering IP at the core. This combination will create a market-leading force in the IT services sector, helping our clients across the UK adapt, innovate and achieve exceptional outcomes.
“Both businesses bring nearly four decades of UK and global IT channel experience, supporting organisations from FTSE 100 companies to some of the most secure areas of the UK Government.
“The proposed merger will see the joint customer base exceed 3,000, transacting across 7 locations in the UK and globally. It will count Microsoft, Cisco, IBM, Hitachi Vantara, HP, Palo Alto and Citrix in their top strategic vendors.”
Trustmarque CEO Simon Williams said: “Together, we are a powerhouse for managed services and digital innovation across the UK and globally. This merger brings together complementary strengths to create greater value for our people and our clients.
“Building on Trustmarque’s strong Microsoft and Cisco heritage, we are combining the breadth of services and scale needed to deliver, with the depth of expertise and experience that comes from our united teams.
“This gives us more opportunities to anticipate our clients’ needs, stay ahead of changes in their industries and unlock new opportunities together.”
Ultima CFO Jamie Beaumont said: “This is a major milestone in our growth strategy. From the outset, it has been clear that there is exceptional complementarity between Trustmarque and Ultima, with the potential to combine scale with specialist expertise.
“Together, we offer a comprehensive, integrated range of services and support, delivered by exceptional talent that our customers rightly value. Our immediate priority is to complete the transaction and ensure a smooth transition in the coming months for all our customers and partners, while unlocking the full potential of the group.”
Trustmarque and Ultima will continue to operate as separate businesses until completion of the merger.