Knight completed another transaction by advising Pragma on the acquisition of Techland to create the EnableX Group, which encompasses three go-to market brands – Pragma, Candio and Techland.
The new Group will be led by CEO Will Morey (formerly Pragma’s Sales & Marketing Director) and CFO Dean Mayer (Techland MD and investor), while Tim Brooks (Pragma MD) becomes Commercial Director.
“This transaction is an opportunity for us to continue to build a strong and growing business that remains 100% dedicated to the reseller channel,” said Will Morey.
“The similar ethos and culture of both businesses was a huge driver in getting this deal done and underpins our focus on continuing to bring propositions to high-growth resellers.”
Pragma’s latest acquisition follows a string of updates and expansion over the last few years. According to Pragma, EnableX Group will have over 250 resellers, as well as vendor relationships including Ericsson-LG, Ribbon and SO Connect.
Paul Billingham, Director at Knight Corporate Finance, said: “It’s great to be involved in this transaction and I’m looking forward to seeing the next stage of the journey for Pragma and EnableX. Congratulations in particular to Tim Brooks, Will Morey and Dean Mayer.”
Tim Brooks added: “We met the team at Knight almost three years prior to the deal, to discuss options and to help us prepare for a possible deal. Their Vendor Assist programme helped us to understand the current value of our business, as well our readiness for a transaction. This relationship helped us to know when we were ready to move forward and how to achieve the best outcome for all our stakeholders.”
Will Morey, CEO at EnableX, commented: “The work with Knight enabled us to find the right options when considering how we would continue our growth journey, and more importantly gave us the ability to execute when we decided how we wanted to move forward.”
In what was the 151st successful deal completion for Knight Corporate Finance, funding for the acquisition was provided by BOOST&Co which was also introduced by Knight.
K3 Tax, which, like Knight, is part of K3 Capital Group, advised on tax – demonstrating the value to Knight of being part of a larger Group following its sale to K3 Capital Group.
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