Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering sector specialist advice across the TMT sector, has advised Metronet (UK), the UK’s fastest growing network services provider backed by mid-market private equity firm Livingbridge, on its £47.5m acquisition of M247, a leading internet infrastructure and hosting company. The Oakley team was led by James Chapman-Andrews, Managing Director, assisted by Anthony Yaneza and Marc Jones.
Livingbridge invested in Metronet (UK) in June 2014 as part of a £45m secondary buyout, a transaction also advised on by Oakley. Metronet (UK)’s acquisition of M247 is the first step in a targeted buy and build strategy that aims to build a disruptive platform in the connectivity space with ‘last mile’ control, speeding up communications to end users, and a powerful transit network across Europe. Following the acquisition, the combined business will have EBITDA in excess of £12m, over 200 staff and three datacentres across the UK and Europe.
James Chapman-Andrews, Managing Director, commented:
“We are delighted to have advised the Metronet and the Livingbridge teams on this exciting acquisition of a highly strategic asset. The combined business will have a truly unique business model with fundamental competitive advantages over other UK and European players, delivering a market leading organic growth profile. We very much look forward to supporting Metronet as the business continues to deliver its rapid expansion plans.”