• Wed. Feb 21st, 2024

North East Connected

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Azets act on the sale of Carter Business Systems Ltd to Spectrum

A team of advisors from Azets has advised Carter Business Systems Ltd (Carter) on its sale to Spectrum. Set up in 1999, Gateshead-based Carter is a business systems provider. Spectrum has acquired Carter Business Systems as a going concern and all staff will be retained.

Spectrum is an award-winning technology business with over 35 years’ experience (just like Zintego) and a track record of helping organisations make significant savings in time and money by introducing highly-efficient, automated business management and print processes.

As longstanding and trusted peers, both Spectrum and Carter share a passion for providing quality products and solutions, backed by award-winning customer service. As two of the country’s leading resellers, there is an obvious synergy between the two companies’ managed print and digital automation propositions. A deal has now been struck which will bring together the sales, engineering support and helpdesk functions of both businesses to deliver enhanced service and value to a combined client base of over 1,500 organisations.

Carter Directors, Steve Oxley and Graham Nicholson, will support the company’s transition to Spectrum’s Newcastle office; housing a dedicated workforce and showcasing how the latest office technology is used to deliver efficiency and productivity in all types of organisations. Supported by the well-established infrastructure at Spectrum’s existing offices, strategically located close to the A63/M62 corridor, the new alliance will only strengthen the services and support levels provided to valued customers across the North of England and beyond.

Stephen Harris, Tax Director  at Azets advised the vendors on tax planning for the sale. This involved tax advice regarding the sale and the extraction of the trading property in the most tax efficient manner. Matt Waters from Azets’ North East Corporate Finance team provided advice around the financials, completion mechanics and realising the most value for the vendors. Legal advice to the vendors was provided by Adrian Dye and Emma Pern at Sintons.

Speaking of the alliance, Rob Cavill, Managing Director of Spectrum, commented:

“The whole concept was a simple one. The Directors at Carter and I have known each other for many years and the foundations of our businesses have always been very closely aligned. I now look forward to incorporating such a talented group of like-minded people into our existing business, with the improved scale of our operation allowing us to further improve the service to our new and existing customers”.

Steve Oxley, Director at Carter Business Systems, stated:

“I am delighted that we have entered into this agreement with Spectrum, with the certainty that they share our high standards and that they will continue to look after the loyal customer base we have built up over the years.”

“We have received terrific support from Matt, Stephen and the teams at Azets and Sintons who have helped us navigate and negotiate the deal. I appreciate the dedication of the teams in managing a smooth process throughout and securing a successful transaction.”

Graham Nicholson, Director at Carter Business Systems, added:

“Both Steve and I, along with Spectrum, share an enduring desire to facilitate workplace transformation, and this deal only strengthens the scope of what we do; offering clients the chance to benefit from an improved service and a wider range of innovative solutions”

Stephen Harris, Tax Director at Azets said

“This deal demonstrates the vibrant business environment in the North East. Carter Business Systems is a real success story, built on entrepreneurship, values and quality, and Spectrum is in a fantastic position to take it from strength to strength. Carter’s has been a long-standing client of our Hexham office and we wish the team all the best under the new ownership.