Irwin Mitchell Advises On Strategic Purchase Of One Of Apple's Leading B2B Resellers
The corporate team at law firm Irwin Mitchell has advised Econocom on its acquisition of a majority stake in Trams Ltd, an independent reseller of digital assets in the UK.
Founded in 1990, Trams is a UK award-winning IT solutions provider benefiting from long-standing partnerships with Apple, HP, Lenovo and Dell.
Based in London, Trams offers a wide range of services to its B2B customers from defining needs, configuring environments, installing, and supporting hardware. It employs around 40 people and serves large international companies and well-known blue-chip brands. The company reported in revenues of £42m in its most recent financial year.
The agreement grants Econocom an initial majority stake with the founders and key managers remaining fully committed to drive growth further benefiting from the synergies of the combined platforms.
Vicky Zivkovic. a Corporate partner at the Manchester office of Irwin Mitchell, led the team that advised Econocom.
Expert Opinion“This deal represents a hugely significant step forward for Econocom and strengthens its footprint in one of its core countries. Trams is a very well respected business in the UK and its strong vendor relationships will be a valuable boost to Econocom as it looks to enhance its global distribution offering.” Victoria Zivkovic - Partner
Frances Weston, Managing Director of Econocom for UK and USA, said: “We are very pleased with this transaction, it will significantly strengthen our presence in the United Kingdom, a strategic development area for the group. We are also delighted to resume a new cycle of external growth after two years of consolidation. This acquisition opens a new era for Econocom as a Digital General Contractor.”
Warren Peel, Managing Director of Trams said: “The Trams teams are delighted to join the Econocom group and benefit from its support to help us accelerate our development. We anticipate a great joint synergy potential, both on the commercial front and through the addition of new value-added expertise (Services and Financing in particular) that will certainly allow Trams to quickly change dimension.”