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Unity Technologies I.T Limited announces acquisition of IT Force Limited

Combined operation will employ over 100 people

Unity Technologies I.T Limited (“Unity”) has today (Friday, October 30, 2020) announced the acquisition of IT Force Limited (“ITF”) for an undisclosed consideration.

The experience and breadth of services of the two businesses will enable the combined entity to further service the needs of their expanding client base of over 600 companies across IT Cloud and Managed Services, Professional Services and IT Security. Revenue for the expanded group will exceed €16m and the company will employ over 100 people.

Speaking today, David Hargaden (CEO of Unity) said; “We are delighted with the acquisition of the ITF business. This acquisition will enhance the depth and expertise of what we offer our customers in IT Cloud Services and Cloud Security. We have ambitious growth plans for the combined businesses into the future, underpinned by the strong recurring customer base and the specialist services we provide. This is another milestone on our growth journey.”

Roisin Cahill (Director ITF), said; “John Bergin and I and all the team at IT Force are excited to join forces with David Hargaden and his team at Unity Technology. They have significant growth plans that mirror our own ambition. We have built a successful business over the last two decades by being a reliable and trusted partner to clients and by providing award winning IT support.  This new venture will enable us offer even more value to our clients and provides exciting opportunities for our colleagues in an expanded operation.”

Pat Walsh (Dunport Capital Management), said; “DunPort Capital Management is delighted to have provided additional capital to Unity for the strategic acquisition of IT Force. We look forward to working with the Unity management team led by David Hargaden over the coming years as Unity continues to build on their impressive track record to date in the domestic IT Managed Services sector.

“DunPort is focused on the provision of flexible debt capital to well-managed, high quality SMEs and mid-sized corporates. In that context and especially in these challenging times for all businesses, we were very pleased to have once again supported Unity, an existing borrower since 2019.”

About Unity

Unity is a leading provider of IT Cloud  Managed Services, with an ISO 20000 Certified service desk, with offices in Dublin and Cork. The business was founded in 2010 and has successfully established its reputation as one of Ireland’s leading Cloud Services business. Customers include the Residential Tenancies Board and Musgrave Retail Partners.

 About ITF

Founded in 1999, and based in Dublin City, IT Force delivers award-winning IT Cloud Support, Managed IT Services and Managed IT Security Services to clients. The company is a Deloitte Best Managed company and is ISO27001 certified. Customers include Pigsback.com, RSM and Insomnia.

Advisors

Unity was advised by Louis O’Neill & Martin Treacy of EY (Corporate Finance). Due Diligence was provided by Marcus Purcell (EY) and Tax Due Diligence was provided by Ciaran Medlar (BDO). David Ryan & Declan Cunningham of Flynn O’Driscoll Solicitors acted as legal advisors.

ITF was advised by Julian Caplin (Hornblower Business) and Stephen Walker of Holmes O’Malley Sexton (Legals).

Pat Walsh & Aidan Lynch of Dunport Capital Management, Unity’s existing banking partner, part funded the transaction.