Wed, 13 Mar 2024 | BUSINESS NEWS
Equity Networks, an IT managed service provider (MSP), has secured backing from private equity firm Coniston Capital to drive its acquisitive growth strategy. Equity Networks, which was founded in 2011, has offices in Oxford, Hemel Hempstead and Maidenhead.
The business provides four key services: managed cloud applications, including implementation and maintenance for platforms such as Office365; managed cloud infrastructure, which involves migrating data from outdated servers to cloud infrastructures; managed security of data; and managed communications, primarily internet connectivity.
To date, the company has completed five acquisitions and the partnership with Coniston Capital will now enable the firm to execute on its next phase of acquisitions, with several M&A opportunities already in its pipeline.
Following the investment, Edward Spurrier – who has an extensive career in IT and communications, including serving as chairman of Wavenet and CEO of Alt Networks – will join the company’s board of directors as non-executive chairman. Alfred Chambers led the transaction for Coniston Capital and will now also join Equity Networks’ board of directors.
Equity Networks co-managing director Alex Hall commented: “Coniston’s expertise, experience and funding will enable us to accelerate our acquisition plans, to take advantage of exciting opportunities and ultimately to better serve our customers."
Coniston Capital is a private equity investor focused on the small MBO market and the investment in Equity Networks is the sixth from its Coniston Capital I LP fund, which had its final close in March 2022.
Alfred Chambers commented: "Coniston is pleased to partner with Equity Networks. Their innovative team has a clear focus on customer service and an ambitious buy-and-build strategy. They already have experience in acquiring and growing businesses in an attractive sector and we believe that, with Coniston’s support, Equity Networks will complete several more transactions."
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