M/C Partners Announces Sale of Attenda to Darwin Private Equity
USD $83 Million Sale Is Latest Successful Exit for M/C Partners
BOSTON, MA (August 26, 2011) — M/C Partners, a leading investor in communications services, today announced the sale of portfolio company, Attenda Ltd, a leading provider of managed hosting services to UK enterprises, for £50 million (USD $83 million). The management buyout was made by Darwin Private Equity, a London-based mid-market private equity firm.
M/C Partners 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 £21 million (USD $35 million).
The sale of Attenda is 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 Communications, Fusepoint Managed Services, Legendary Pictures, and Cavalier Telephone. It also clearly demonstrates that M/C Partners 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," said Robert Savignol, Partner, M/C Partners. "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.”
Attenda has built a broad client base of over 100 mid-market UK enterprises including BMI, St James’s Place and Travelodge. Established in 1997, Attenda now has over 200 staff and a strong track record of year on year growth, achieving revenues of £28.5 million in 2010.
“We are deeply grateful for the financial backing and guidance provided by M/C Partners,” said Mark Fowle, CEO, Attenda. “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.”
Attenda hosts and manages its clients’ mission-critical applications, ensuring that they are “Always On”, providing clients with higher availability and systems flexibility at lower cost. 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.
About M/C Partners
M/C Partners is a private equity firm focused exclusively on the communications, media, and information technology sectors. The firm has invested over $1.5 billion into nearly 100 companies in those sectors. Companies M/C has backed include Cavalier Telephone, Corelink, Fusepoint, GTS Central Europe, ICG Communications, Legendary Pictures, Lightower, MetroPCS, NuVox, Open Mobile, Public Mobile, Seven Networks and Zayo Group. The firm has strong institutional backing from the nation's leading pension funds and endowments as well as a long track record of success. M/C Partners has offices in Boston, San Francisco and London. For more information, visit www.mcpartners.com.
Attenda (www.attenda.net), the Always On Managed Services company, manages those vital applications that every business relies upon today to function effectively. This allows our clients to selectively outsource their IT service operations and re-focus on using IT to add strategic value to their business.
Through a commitment to operational excellence, we manage, secure and optimise the performance of their applications, irrespective of the physical location of the infrastructure. With over 11 years of investment into Attenda M.O., our proprietary world-class IT service operations platform, provides the people, processes and technologies to deliver exceptionally high service levels, but at a cost that is amortised across Attenda's entire client base.
The company enjoys substantial financial backing, the industry's leading accreditations and an unrivalled portfolio of Clients including bmi, Christian Aid, Microsoft, NHS, Princes and Travelodge. Attenda holds critical industry accreditations including ISO9001, ISO27001 and ISO20000 as well as benefiting from many industry certifications including: HP SP Signature Partner, Microsoft Gold Certified Partner and SAP Cloud Services Partner.
We are one of only seven companies to have been ranked in the UK's Sunday Times Tech Track 100 for three consecutive years and the buyout track for two. Attenda was voted Best Managed Services Provider by Data Centre Europe Awards for both 2007 and 2008, VMware’s EMEA Hosting Partner of the Year 2008 and 2009 and VMware’s EMEA and Global Service Provider Partner of the Year 2010.
For further details, visit www.attenda.net.
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