
“Our decision to exit the business comes after careful consideration and planning to ensure the continued success and growth of Cardium. I am confident that Managed IT Services Group Limited shares our values and vision, and their expertise will take Cardium to new heights. I want to express my gratitude to our customers, dedicated employees, and all stakeholders who have been instrumental in our journey thus far. I am excited about the prospects of Cardium under the new ownership and look forward to witnessing its continued success. Finally, I would like to thank Stephen and the whole PM+M team for the excellent result that they delivered for myself, Paul and John.”Michael Carter, Cardium Outsourcing
About our client
Cardium Outsourcing Limited (under the trading name Your Office Anywhere) provide bespoke, fully managed, windows server solutions, centred around hosted Remote Desktop Services – hosted desktop – from its secure UK data centres.
Hosted remote desktops are the modern way to run Windows desktop applications using the cloud. A hosted desktop lets you share applications, documents and data with colleagues wherever they are in the world and whatever device is used. Catering for both SMEs and larger corporates, Your Office Anywhere specialises in working with customers who require innovative and customised hosted server and hosted desktop solutions for bespoke and off the shelf desktop applications.
How PM+M helped
PM+M’s corporate finance team provided a full deal support offering to the shareholders of Cardium, supporting the negotiation of heads of terms, the cash free, debt free position and the negotiation of the SPA and full support throughout the financial and legal due diligence process of the buyer.
This was particularly helpful to the shareholders of the company given the relative complexity of the transaction, which involved some elements of deferred consideration.
The outcome
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SUCCESSFUL DEAL COMPLETIONA successful outcome for the client who the PM+M team negotiated the best possible deal for
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SECURED THE LONG-TERM FUTURE OF THE BUSINESSA secure future for the company under a larger corporate ownership that will support its ongoing growth in the UK market
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SEAMLESS EXITA successful exit for each shareholder of the business who had diverging goals regarding the long-term future of the business
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