Cheque-mate as Chess buys Foursys
Ashtons Legal has advised the directors of Bury St Edmunds company Foursys on its sale to Chess, a Cheshire-based telecoms and ICT provider.
Foursys, which employs 50 staff, 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 £11 million to its turnover, bringing it to £120m.
Geoff Hazlewood, a partner and head of the Corporate and Commercial Team at Ashtons 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.”