Proact Sold Holding in Exquip Network Services

Proact IT Group has sold its holding in Exquip Network Services Ltd (Exquip).

Exquip operated as a subsidiary of the UK arm of Proact under the
trading name of Olympic Support, a third-party hardware maintenance
provider of mission critical enterprise hardware technology.

The acquirer was Systems Maintenance Services Inc. (SMS), a portfolio company of the US-based private equity firm Thomas H. Lee Partners.

SMS, founded in 1981 and headquartered in Charlotte, NC is in enterprise IT asset maintenance and lifecycle services.

Exquip has been a part of Proact IT UK (formerly B2net) since 2005,
with turnover of approximately £4M GBP and 25 employees. The financial
implications for Proact will be a contribution of cash of 1.0 MGBP and a
positive impact upon the operating profit in Q1.

"When Proact purchased B2net in 2011 we decided that the Exquip
service offerings were outside of our core business model and began
seeking a strategic suitor. I am pleased that we found a buyer whose
business model and delivery organization will be complimented by the
integration of Exquip and all of its employees," says Martin Ödman, CEO and president for Proact IT Group.

"With the sale of Exquip we can focus on our core business and direct our management resources towards Proact’s focus areas," says Jason Clark, CEO for Proact IT UK.