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Oakley advises iPortalis on a minority investment by NorthEdge Capital
August 7th, 2018
Company Name
iPortalis
Company Sector
Technology
Deal Size
Undisclosed
Location
UK

Oakley Advisory Limited (“Oakley”), the independant corporate finance firm offering specialist advice across the TMT sector, has advised iPortalis Limited (“iPortalis” or the “Company”) on a minority investment by NorthEdge Capital’s SME Fund.

iPortalis helps international enterprise customers aggregate their diverse software ecosystems so that all technology purchasing, deployment and licence & asset management functions can be handled by IT teams via a single pane of glass. The iPortalis Control Portal (iCP) enables IT teams to purchase, deploy and manage over 30 popular applications from Microsoft, Cisco, Citrix, Symantec, VMware, Acronis and other leading suppliers – and was recently named Most Innovative Enterprise Product at the UK Cloud Awards 2018.

iPortalis employs a team of cloud technology experts across its offices in the UK, Europe and USA, is vendor-agnostic and has a strong portfolio of global clients from multinational enterprises to many of the world’s largest hosted service providers and telcos.

NorthEdge Capital manages over £650m of private equity funds aimed at the North of England and Midlands regions targeting buy-out and development capital transactions. The private equity firm closed its maiden Fund at £225m in March 2013, Fund II at £315m in March 2016 and SME Fund I at £120m in July 2018.

NorthEdge’s investment supports the existing iPortalis management team led by founders Neil May, CEO, and Eric Hanig, CTO, and sees NorthEdge take a significant minority stake in the company. The transaction was signed on 3 August 2018 and will enable iPortalis to drive further expansion of its client base, continue to strengthen its market leading technology and triple headcount to 60 staff across the globe. John Hawkins, an experienced Chairman who has consistently driven growth in the technology sector, will join the business as Non-Executive Chairman.

This transaction continues Oakley’s success in advising software specialists in the ICT services space following the sale of DXI to 8×8 (contact centre software) and the MBO of Redstor backed by Beech Tree Private Equity (data management software). The Oakley team was led by James Chapman-Andrews, Managing Director, with support from Marc Jones, Director, and Harry Williams, Analyst.

James Chapman-Andrews, Managing Director at OAL, commented:

“As large legacy IT service providers to enterprises struggle with the efficient, flexible and transparent delivery of cloud services, both the market opportunity for delivery portals like iCP, and therefore the resulting growth potential, are vast. We are delighted to have helped Neil, Eric and the iPortalis team to raise the capital they need to deliver the next significant phase of growth in their exciting journey.”


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