Onyx snapped up in £42m deal
Business data management company Onyx has been snapped up by Isis Equity Partners in a £42m deal aiming to grow the company.
ISIS paid £27m to buy the Stockton company and committed a further £15m to fund strategic acquisitions.
Set up in 1994, Onyx has 10 sites across the country including Newcastle, Teesside, London, Glasgow, Edinburgh and Sheffield. It has a £14.9m turnover.
Neil Stephenson, CEO, Onyx Group said: "This is a milestone for Onyx which will greatly bolster our position as a leading provider of specialised IT provision within the data centre, business continuity and cloud space.
“It highlights the commitment and sheer hard work of our people in ensuring that Onyx continues to differentiate itself from competitors in the market through the development of bespoke IT solutions to meet the needs of businesses within very different, specific fields."
