Ashtons advise on sale of cyber security firm Foursys
Ashtons Legal has advised the directors of Bury St Edmunds based company Foursys on its sale to Chess, a Cheshire-based Telecoms and ICT provider.
Foursys are based in Great Barton near Bury St Edmunds and currently employ 50 staff. The company has experienced strong growth since its current directors James Miller and Jez Turner undertook a management buyout in 2013. The Foursys team, which services customers across the UK, has 20 years’ experience in providing cyber security to public sector, small and medium-sized businesses, corporate, and enterprise organisations.
Telecoms and ICT provider Chess said the acquisition of Foursys for an undisclosed sum will add more than £11m to its turnover, bringing it to £120m.
Geoff Hazlewood, a partner and head of the Corporate and Commercial Team led the transaction for Foursys and said: “Having been involved in the management buyout in 2013, it was a pleasure assisting Foursys again with this transaction.”
Foursys managing director James Miller said the cultural, organisational and business fit of the two companies was “perfect” and added: “I’m delighted that Chess see the acquisition of Foursys as such a key step on their growth journey. Being part of a much larger business brings new opportunities, expertise and skills in a wide range of ICT disciplines for our customers and partners.”
Sales Director Jez Turner said: “Geoff was extremely helpful throughout the process with excellent professional advice and was always available at short notice. This is the first company we have sold and Geoff handheld us through every step from start to completion”.
Ashtons cross-disciplinary team are experienced and fully equipped to advise care homes on acquisition and disposals, as well as banking and finance matters alongside providing general commercial, employment and commercial property advice.
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