Prior to its acquisition by MXC, Calyx Managed Services was owned by Better Capital and provided a range of IT solutions: managed, professional and infrastructure services; converged network services; and hardware replacement and support services.
MXC identified the opportunity to acquire and then restructure the company and its operations, splitting it into three distinct businesses and then running disposal processes to selected purchasers.
To run four transactions over a two month period:
- Acquisition of the company in a competitive process then simultaneously running two asset disposals and the sale of the company
- In addition, MXC oversaw the internal reorganisation as well as the day-to-day operations of the company during the interim period of its ownership
A 90% return for MXC shareholders and an earnings enhancing acquisition for MXC investee company Redcentric