Moore Kingston Smith advises Prime Networks on Solution Support acquisition

Prime Networks has once again entrusted Moore Kingston Smith Corporate Finance with a strategic acquisition, marking their fourth collaboration in acquiring a tech company – this time, Solution Support Limited.

Founded in London in 2013, Prime Networks provides IT, telephony, cloud and security services to more than 500 SME clients, employing over 60 people in offices across England.

Since its inception, Prime Networks has pursued a clear vision: to build a portfolio of tech companies and expand through a buy-and-build strategy. Moore Kingston Smith Corporate Finance has been an integral part of this journey, advising its stakeholders on the acquisitions of Control Esc, specialists in IT services and hosted telephony in 2020; G3 Solutions, a Dorset-based IT solutions provider, in 2021; and TNSC, a Surrey-based IT network support provider with a strong presence in the education sector, in 2022.

Established in 2004 in Tamworth, West Midlands, Solution Support Limited delivers IT support, services and security for businesses. The company prides itself on being created and operated by engineers who provide a direct, personalised and honest service that its clients highly rate.

This acquisition enables Prime Networks to expand its geographical footprint into the Midlands while maintaining its commitment to offering integrated and bespoke services to SMEs – an approach that has been foundational to its growth.

For this transaction, the Moore Kingston Smith Corporate Finance team provided buy-side advisory and due diligence services for Prime Networks’ expansion.

Additionally, the transaction involved restructuring Prime Networks’ existing funding package, with Clydesdale Bank continuing to support the company’s growth ambitions.

The Moore Kingston Smith Corporate Finance team for this project was led by Nick Thompson, Corporate Finance Partner specialising in IT services. Adele Hebditch, Director of Transaction Services, and Matt Edwards, Manager specialising in IT services, also contributed their expertise.

This project highlights Moore Kingston Smith’s proficiency in delivering tailored, commercially focused buy-side advisory services for companies in the IT services and technology sectors. It showcases the firm’s ability to support businesses and potential acquirers seeking funding solutions.

Mark Simons, Managing Director of Prime Networks, said: “Bringing the Solutions Support team into the Group not only strengthens our service offering but also widens our regional presence. This brings us closer to our goal of building a truly national MSP catering specifically to SMEs. Moore Kingston Smith has been a fundamental part of our growth journey. We have a long relationship with Nick Thompson and his team. They have facilitated for us multiple projects that have run smoothly, and we trust their expertise and honest way of completing a transaction.”

Paul Davis, Co-Founder of Solution Support, added: “This is an ideal opportunity for Solution Support to join a dynamic and rapidly growing MSP.”

Nick Thompson, Corporate Finance Partner of Moore Kingston Smith, concluded: “It’s always a pleasure to work with Mark and his team, helping them achieve their ambitious growth plan. This is the fourth transaction we facilitated for them within a few years. We aim to help businesses grow, expand and consolidate, and Prime Networks is a great example of how strategic objectives can be achieved with the right people and a clear plan. We wish Mark and Prime Networks all the success.”