Mergers & Acquisitions

Mergers & Acquisitions

August 31, 2011

M/C Partners Sells Attenda to Darwin Private Equity

M/C Partners, an investor in communications services announced the sale of portfolio company, Attenda Ltd, a provider of managed hosting services to UK enterprises, to Darwin Private Equity, a London-based mid-market private equity firm, for USD $83 million.

Established in 1997, Attenda has built a broad client base of over 100 mid-market UK enterprises including BMI, St James's Place and Travelodge. With its business-centric approach and utilizing its proprietary cloud management platform, Attenda provides services and solutions in the client's chosen environment, ranging from pure cloud computing deployments through to more dedicated, tailored solutions. Attenda now has over 200 staff and a strong track record of year on year growth, reportedly achieving revenues of GBP 28.5 million in 2010.

"We are deeply grateful for the financial backing and guidance provided by M/C Partners," Mark Fowle, chief executive officer of Attenda said in a statement.

 "The firm's assistance has helped to position us for long-term growth and success. Their vision was instrumental in our ascension to our current market leadership position," Fowle added.

M/C Partners claims to have invested $14 million in the company since 2002 and realized its first proceeds with the sale of Attenda co-location subsidiary, IFL, to Telecity last year for USD $35 million. The sale of Attenda is indicated to be the latest in a series of successful exits for M/C Partners over the past eighteen months, a list that includes the sale of NuVox (News - Alert) Communications, Fusepoint Managed Services, Legendary Pictures, and Cavalier Telephone.

According to the M/C Partners, the sale of Attenda clearly demonstrates that it is successfully leveraging its investment expertise in telecom and media in Europe.

"We are extremely proud of the tremendous growth Attenda has achieved over the past nine years," Robert Savignol, partner, M/C Partners said in a statement.

"We recognized early on the extensive opportunities in the managed hosting space, and were very confident in our investment in Attenda. Given the strong public and private market appetite for managed hosting services and companies, this was a highly-favorable time to exit our investment," Savignol added.

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Meenakshi Shankar is a TMCnet contributor. To read more of her articles, please visit her columnist page.

Edited by Rich Steeves

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