M & A Rainmaker

Peter MacLean, Chairman of Fox IT Holdings Limited ( well, Chairman when he wants to be and anonymous when he doesn’t ) has delayed the winding up of Fox IT Holdings in order to let the Directors of Fox IT Limited do a Management Buy Out ( MBO ) of Fox IT Limited.  ( see the full Press Release from Fox IT Limited below ). Quite clearly MacLean and Fox IT Management Team Andrew Gray, Mike Darkens and Ashley Bassett have been deep in discussion about how best to extract Fox IT Limited out of a company that MacLean seems determined to put into administration.

This is really interesting ( if it was not so sad !! ). One assumes that Gray, Darkens and Bassett have been running a profitable company ( else why would they want to buy it ?? ) so this means that Fox IT Holdings Limited, which had no creditors – because they were all paid off when LMS Capital plc bought out most of the companies from 365iT plc – has now had a cash injection from the Directors of Fox IT Limited from the MBO. Yet – we understand – it is still to be put into administration ( if it has not already been – as we understand that is now the case ). Perhaps MacLean has taken even more money out of the company to go with the ” repayment of his loan ” that occurred when LMS Capital bought out most of 365iT’s companies ???? Maybe he has taken a consultancy fee for negotiating the sale of Fox IT Limited to it’s Management team ??

The phones have been hot today with people calling about this latest development so more soon !!

Fox IT: Management Buy-Out

Fox IT Limited, the leading independent UK based IT Service Management specialists, has

been the subject of a full and exclusive management buyout with effect from 24th August,

2012. The current management team of Andrew Gray (Finance Director), Mike Darkens

(Consulting Director) and Ashley Bassett (Sales Director) have purchased in full the shares

from the parent company, Fox IT Holdings Limited (formerly 365iT Plc.) and will form the

new board and operational directorship of the business. The acquisition retains all current

operational and delivery UK based staff as well as its global partner network covering 25

countries and 125 accredited Service Management consultants.

Since 1981, Fox IT, formerly Ultracomp, has assisted over 500 organisations and 200000

individuals on their journey to transform IT Services in order to deliver greater business

value through accredited training reinforced with assessment and implementation tools and

services. This management buyout facilitates a strengthening of Fox IT’s core business

focus and portfolio in supporting organisations through all phases of their continual service

improvement journey.

Ashley Bassett commented “I believe this is great news for our Clients, employees and the

ITSM Industry. We’re genuinely excited and confident that the buyout provides the

opportunity for Fox IT to continue being the partner of choice for Service Improvement and

transformation programs. Since its involvement in the inception of ITIL® and ISO/IEC

20000, Fox IT has continually been at the forefront in establishing, the advancement and the

practical application of Service Management best practice through thought leadership,

content provision and service delivery. Whilst continuing to support organisations with their

core training needs a key focus and challenge for the new Board of Directors is to provide

our Clients with practical education, guidance and tools to accelerate the translation of their

significant training investment into tangible business benefits.

The Fox IT brand has already seen a shift from being purely a world leading ITSM training

company to one of supporting our Clients’ service improvement programs providing

consulting and resourcing services, process development tools, bespoke training offerings

and strategic mentoring and guidance for maintaining service quality. Therefore, Fox IT is

well positioned to meet this change in demand. Part of our new mission is to raise the

profile of ITSM to meet and deliver business objectives”

Mike Darkens added “The success of the business is based on the core attributes of our

people, their experience and energy. This has led to the positive results we have delivered

consistently to our clients and through adding to our strong relationships, we can continue

the current trend of business growth.”

ITIL ® is a registered trademark of the Cabinet Office

Peter MacLean, who recently put Fox IT Holdings into administration ( although he kept his name off all the paperwork ) and is Chairman of the company that trades as 365 IT Services ( http://www.365itservices.co.uk/about/ – the so called trusted IT Partner for British Business – LOL !! ) has a web of Directorships that defies belief but explains quite a bit.

see here http://company-director-check.co.uk/director/915777314 and at the bottom of this blog.

Interestingly – well at least to me – he resigned from the Board of Fox IT Limited in October 2011. It is Fox IT Holding Limited that was put into administration a couple of days ago. 365 ITMS Limited and 365 Technology Limited are still in operation ( to do with 365itservices ) and just look at the 365 IT Subco’s – 365 IT SUBCO No 1 LIMITED and 365 IT SUBCO No 2 LIMITED.

This is the sort of scheming that clients of 365 itservices (  http://www.365itservices.co.uk/about/ ) can expect. 365 Technology Limited and365 ITMS are both registered at Napolean House, the offices of 365iT and the old offices of 5i Limited.

So, it’s really a similar situation to 365 IT where you have subco’s set up just in case of ?????????

Well who knows but probably another planned administration ( creditors and clients beware ) .

The real question of course is how Fox IT Holdings could be put into administration shortly after Peter MacLean took £Millions out of it and when all the creditors were paid off. Source: Leter from Peter MacLean.

Peter MacLean’s Directorships:

Director Summary Peter MacLean has 21 company director or secretary appointments. Short name – Peter MacLean Director ID : 915777314 Year of Birth: 1948 Address Napoleon House Riseley Business Park Riseley Reading United Kingdom RG7 1NW
	Company Summary Company Name Company Status 365 ITMS LIMITED Active NSD HARROGATE LIMITED In Liquidation 365 TECHNOLOGY LIMITED Active FOX IT HOLDING LIMITED Active PHINDA MANAGEMENT LIMITED Active FOX IT LIMITED Active (Director Resigned 24/10/2011) 365 IT SUBCO NO.1 LIMITED Active (Director Resigned 22/09/2011) IMPERA LIMITED Active (Director Resigned 22/09/2011) IMPERADATA LIMITED Active (Director Resigned 22/09/2011) 365 IT SUBCO NO.2 LIMITED Active (Director Resigned 22/09/2011) SECURE NETWORKS UK LIMITED Active (Director Resigned 22/02/2011) NEXTAROMA LIMITED Active (Director Resigned 20/12/2006) EUROCHECK LIMITED Active (Director Resigned 20/12/2006) W. E. L. GROUP LIMITED Active (Director Resigned 20/12/2006) ISG TECHNOLOGY LIMITED Active (Director Resigned 20/12/2006) WEBB ELECTRONICS & COMMUNICATIONS LIMITED Active (Director Resigned 20/12/2006) INFORMATION SYSTEMS GROUP LIMITED Active (Director Resigned 20/12/2006) CORPORATE SOLUTIONS GROUP LIMITED Active (Director Resigned 20/12/2006) ISG WEBB EMPLOYEE BENEFIT TRUST LIMITED Active (Director Resigned 20/12/2006) ISG TECHNOLOGY HOLDINGS LIMITED Active (Director Resigned 20/12/2006) GSIG CENTRE LIMITED Dissolved
	365 ITMS LIMITED Appointment Date: 22/09/2011 Position: Director Occupation: Director Company Status: Active Address: NAPOLEON HOUSE RISELEY BUSINESS PARK READING RG7 1NW GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login NSD HARROGATE LIMITED Appointment Date: 05/11/2008 Position: Director Occupation: Director Company Status: In Liquidation Address: 4 CARTEL BUSINESS CENTRE STROUDLEY ROAD BASINGSTOKE RG24 8FW GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login 365 TECHNOLOGY LIMITED Appointment Date: 21/08/2008 Position: Director Occupation: Director Company Status: Active Address: NAPOLEAN HOUSE RISELEY BUSINESS PARK, BASINGSTO READING RG7 1NW GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login FOX IT HOLDING LIMITED Appointment Date: 18/03/2005 Position: Director Occupation: Director Company Status: Active Address: NAPOLEON HOUSE RISELEY BUSINESS PARK, BASINGSTO READING RG7 1NW GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login PHINDA MANAGEMENT LIMITED Appointment Date: 27/02/2001 Position: Director Occupation: Director Company Status: Active Address: STEVENTON MANOR STEVENTON HAMPSHIRE RG25 3BE GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login FOX IT LIMITED Appointment Date: 29/10/2010 Resignation Date: 24/10/2011 Position: Director Occupation: Director Company Status: Active Address: CHESTER HOUSE 76-86 CHERTSEY ROAD WOKING GU21 5BJ GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login 365 IT SUBCO NO.1 LIMITED Appointment Date: 09/04/2009 Resignation Date: 22/09/2011 Position: Director Occupation: Director Company Status: Active Address: NAPOLEON HOUSE RISELEY BUSINESS PARK, BASINGSTO READING RG7 1NW GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login IMPERA LIMITED Appointment Date: 21/08/2008 Resignation Date: 22/09/2011 Position: Director Occupation: Director Company Status: Active Address: NAPOLEON HOUSE RISELEY BUSINESS PARK, BASINGSTO READING RG7 1NW GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login IMPERADATA LIMITED Appointment Date: 04/08/2008 Resignation Date: 22/09/2011 Position: Director Occupation: Director Company Status: Active Address: NAPOLEON HOUSE RISELEY BUSINESS PARK, BASINGSTO READING RG7 1NW GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login 365 IT SUBCO NO.2 LIMITED Appointment Date: 04/12/2007 Resignation Date: 22/09/2011 Position: Director Occupation: Director Company Status: Active Address: NAPOLEON HOUSE RISELEY BUSINESS PARK, BASINGSTO READING RG7 1NW GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login SECURE NETWORKS UK LIMITED Appointment Date: 15/08/2007 Resignation Date: 22/02/2011 Position: Director Occupation: Director Company Status: Active Address: NAPOLEON HOUSE RISELEY BUSINESS PARK, BASINGSTO READING RG7 1NW GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login NEXTAROMA LIMITED Appointment Date: 20/09/2006 Resignation Date: 20/12/2006 Position: Director Occupation: Director Company Status: Active Address: ASHMEAD HOUSE EVERSLEY WAY CRABTREE OFFICE VILLAGE EGHAM TW20 8RY GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login EUROCHECK LIMITED Appointment Date: 20/09/2006 Resignation Date: 20/12/2006 Position: Director Occupation: Director Company Status: Active Address: ASHMEAD HOUSE EVERSLEY WAY CRABTREE OFFICE VILLAGE EGHAM TW20 8RY GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login W. E. L. GROUP LIMITED Appointment Date: 20/09/2006 Resignation Date: 20/12/2006 Position: Director Occupation: Director Company Status: Active Address: ASHMEAD HOUSE EVERSLEY WAY CRABTREE OFFICE VILLAGE EGHAM TW20 8RY GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login ISG TECHNOLOGY LIMITED Appointment Date: 22/02/2006 Resignation Date: 20/12/2006 Position: Director Occupation: Director Company Status: Active Address: ASHMEAD HOUSE EVERSLEY WAY CRABTREE OFFICE VILLAGE EGHAM TW20 8RY GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login WEBB ELECTRONICS & COMMUNICATIONS LIMITED Appointment Date: 22/02/2006 Resignation Date: 20/12/2006 Position: Director Occupation: Director Company Status: Active Address: ASHMEAD HOUSE EVERSLEY WAY CRABTREE OFFICE VILLAGE EGHAM TW20 8RY GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login INFORMATION SYSTEMS GROUP LIMITED Appointment Date: 22/02/2006 Resignation Date: 20/12/2006 Position: Director Occupation: Director Company Status: Active Address: ASHMEAD HOUSE EVERSLEY WAY CRABTREE OFFICE VILLAGE EGHAM TW208RY TW20 8RY GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login CORPORATE SOLUTIONS GROUP LIMITED Appointment Date: 22/02/2006 Resignation Date: 20/12/2006 Position: Director Occupation: Director Company Status: Active Address: ASHMEAD HOUSE EVERSLEY WAY CRABTREE OFFICE VILLAGE EGHAM TW20 8RY GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login ISG WEBB EMPLOYEE BENEFIT TRUST LIMITED Appointment Date: 05/01/2006 Resignation Date: 20/12/2006 Position: Director Occupation: Company Director Company Status: Active Address: ASHMEAD HOUSE EVERSLEY WAY CRABTREE OFFICE VILLAGE EGHAM TW20 8RY GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login ISG TECHNOLOGY HOLDINGS LIMITED Appointment Date: 15/03/2005 Resignation Date: 20/12/2006 Position: Director Occupation: Director Company Status: Active Address: ASHMEAD HOUSE EVERSLEY WAY CRABTREE OFFICE VILLAGE EGHAM TW20 8RY GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login GSIG CENTRE LIMITED Appointment Date: 02/01/2004 Position: Director Occupation: Executive Chairman Company Status: Dissolved Address: NORTH HOUSE, 198 HIGH STREET TONBRIDGE KENT TN9 1BE GB Directors and Secretaries Load Officers Company Accounts: To view financial summary login