• New York
  • Berlin
  • London
Nasstar PLC
Oakley advises Nasstar plc on its recommended cash offer by GCI Managed Services
Sector:
Technology
Transaction Type:
Disposal
Date:
January 2020
Deal Value:
£75m

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, is delighted to advise cloud services business Nasstar plc (“Nasstar”; the “Company”) on its proposed recommended cash acquisition by Divitas Bidco Limited, an indirect subsidiary of funds managed by Mayfair Equity Partners LLP and its affiliates, and the parent of GCI Managed Services Group.

Founded in 1998 and admitted to AIM in December 2005, Nasstar is a provider of hosted managed services and cloud computing services, integrating private and public clouds and supplying a robust, secure and stable hosted IT service to business customers. Nasstar is an accredited Microsoft Gold Partner, was the 2016 Citrix Networking Partner of the Year and is certified to ISO 27001. Oakley has had a long-term advisory relationship with Nasstar, having worked with the Company on its 2014 reverse takeover of e-know.net, the managed cloud services operator run by the current Nasstar CEO, Nigel Redwood.

The acquisition is intended to be effected by means of a scheme of arrangement and is expected to become effective in late January 2020. Oakley is acting as lead financial advisor to Nasstar, and the team comprised Chris Godsmark, Managing Partner, Marc Jones, Director and Sarthak Sawlani, Associate.

Marc Jones, Director at Oakley, commented:

“We are pleased to advise Nasstar on this recommended cash offer, having worked with the Company over the past seven years. The proposed acquisition by GCI of Nasstar is also a further example of Oakley’s strong capability in public market transactions. The announcement marks our fourth public to private transaction in 2019, making us the leading financial adviser on public market transactions in our sector.”

Related Transactions