Suffolk-based IT recruitment firm Ifftner acquired by Beka Management
- Credit: Archant
IT recruitment specialist Ifftner Solutions has been sold for an undisclosed sum to Cambridge-based firm Beka Management.
Ifftner, which is based at Adastral Park, Martlesham Heath, was established in 1987 and has been owned since 2004, following a management buyout, by Jim and Sanchia Marshall.
The deal with Beka was negotiated by Cambridge-based corporate finance advisers Ashcroft Anthony with the help of regional law firm Birketts, and was funded by ABN AMRO Commercial Finance.
Ifftner places IT and business contractors and permanent staff into a range of roles and sectors. It has particular strengths in cloud, data storage and virtualisation, IT architecture and financial services systems, and holds preferred supplier arrangements with a number of banks, insurers, investment houses, IT solutions companies and large consultancies. Mr Marshall said: “This transaction, together with the ongoing support of ABN AMRO, ensures an exciting future for Ifftner and we look forward to the continued growth of the business and working with the new owners. Sanchia and I are very grateful to Ashcroft Anthony and Birketts for their support and advice throughout the transaction.”
Tom Gallop, corporate finance partner at Ashcroft Anthony, said: “This transaction represents another successful deal for Ashcroft Anthony, following the sale of Providor to Lakehouse plc earlier this year, and provides further evidence of our commitment to the local SME corporate finance market.”
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James Austin and Sarah Lewis of Birketts in Ipswich provided legal advice to the vendors and the funding was led by Mike Davis of ABN AMRO Commercial Finance.
Mr Austin, corporate partner at Birketts, said: “Our highly experienced team advised on a range of legal issues during the course of the transaction. We’re delighted to have assisted in the sale of Ifftner and wish the management team every success working alongside the team from Beka Management.”
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