It has only taken MXC Capital a couple of weeks to work out that it did not want all of the Calyx Managed Services business and take steps to break it up.
As a result the break fix arm has been sold to Daisy and the carrier services operation to Chess for a combined total of £5.55m.
Daisy picked up the break fix operation for £3.75m and Chess splashed out £1.8m for the carrier business.
What remains is an IT services business that is very much focused around the cloud and various flavours of hosted offerings.
“The sale comes as a result of the decision to focus on our core Managed Services offering. Centred on our Cloud platform, we have seen exceptional success with our initial portfolio of IaaS, BUaaS and DRaaS, and we are looking to expand this across a wider range of XaaS offerings,” said Steve Clark, CEO of Calyx Managed Services.
“Daisy and Chess are exceptional players in their fields, and we are 100% confident that they will continue to provide customers with excellent levels of service and support,” he added.
MXC Capital picked up Calyx Managed Services for £9m towards the end of last month after it beat off multiple bidders for the business.
When it acquired the business it made it clear at the time that it would be looking to maximize the return on the investment.
Marc Young, chief executive of MXC, said that the sale of the assets brought “back cash to MXC, whilst giving Calyx a clear focus on providing IT managed services to a diverse customer base, generating high levels of recurring revenue."
Prior to that the firm had been owned by Better Capital after going into administration in 2010 and since then, revenue has plummeted from £65m to just shy of £24m in fiscal 2013.