Global channel services provider Agilitas IT Solutions has gone into administration, and its customer maintenance contract base has been snapped up by rival Cameo Services.
Administrators from Alvarez & Marsal Europe are dealing with creditors and any remaining assets of Nottingham, UK-based Agilitas, which until relatively recently had seen big growth.
However, the firm saw sales dive from £17.7m in 2023 to £13m in 2024, with operating losses ballooning from £1.5m to £8.9m. This performance was partly in connection with losing one of its biggest customers.
Cameo Services managing director Luke Walker said: “We recognise the uncertainty faced by Agilitas' partners and customers during this difficult period. Our acquisition of the maintenance contract base is designed to provide stability, continuity, and enhanced value to our partner community.”
He added: “Cameo are in a position to acquire this customer base due to our continued investment in our operational and logistical infrastructure. Furthermore, this will enable us to bolster our current national team of over 70 engineers.”
Cameo is in the process of hiring some Agilitas staff who have been let go by the administrators. So far, the administrators have not revealed the size of Agilitas’ debts.
Earlier this year, Agilitas appointed Michelle Would as chief operating officer.
Shortly before that hire, Sara Wilkes had been hired as CEO, Angela Whitty was brought in as a non-executive director, Gary Lomas assumed the role of chief revenue officer, and Kirsty Walker was named chief financial officer.
Would’s appointment was said to have completed the company’s newly formed executive team, but there was clearly too much to overcome in a tight market.
