Novosco managing director steps down after £70m sale
Novosco managing director Patrick McAliskey is stepping down from the role as a result of the company's sale to a German business for £70m.
Novosco, which has around 300 staff, is part of CANCOM Group in Munich after the deal yesterday.
The takeover means that Mr McAliskey is stepping down from the top job after 12 years with Novosco. However, he will stay on as a shareholder and adviser. Co-founder John Lennon will be joint managing director of CANCOM UK along with Martin Hess.
Multi-national CANCOM has said it's keen to expand in the UK and enter the Irish market.
Most of Novosco's staff are based at its offices in Catalyst Inc in Belfast.
Novosco customers include several large UK NHS trusts and housing associations. It also has offices in Dublin and Daresbury, near Manchester.
CANCOM employs more than 3,500 people worldwide and has a market presence in Germany, Austria, Switzerland, Belgium, Slovakia, Great Britain and the USA.
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Mr McAliskey and fellow Novosco director John Lennon said: "This is a hugely positive and exciting development for Novosco, our people, our customers and the communities in which we operate, bringing together two companies with very complementary expertise and very similar cultures, ambitions and outlooks. CANCOM is a world-class business with a global reach that sees the addition of Novosco's people, expertise and customer-base as a core part of its strategy for growth.
"The combined specialisms, resources and skills of the two businesses creates a very strong platform from which to further enhance the service we provide to our existing clients and to challenge for new and exciting contracts."
Thomas Volk, chief exectuive of CANCOM SE, said: "Novosco's product portfolio extends our capabilities tremendously and the customers we serve complement each other perfectly.
"Virtually all Novosco customers have no business connection to us yet. In addition, the transaction gives us direct market access in Ireland for the first time, and around 300 specialist staff and a highly profitable business will join CANCOM."