12 October 2016

 

M247 acquired by Metronet (UK)

 

Signia Corporate Finance Limited is delighted to have acted as sole corporate finance adviser to the shareholders and management team at M247 Limited, on the £47.5m sale of the business to Metronet (UK); the UK’s fastest growing network services provider.

 

Manchester based M247 is a leading internet infrastructure and IT company with fast expanding European operations based in Bucharest, Romania.

 

Following the acquisition of M247, Metronet (UK) will be able to offer a combined portfolio of connectivity and content services including wireless network services, datacentres and managed hosting solutions across the UK and Europe. The combined business will have EBITDA in excess of £12m, over 200 staff, three datacentres and over 13,000 customers.

 

Metronet (UK) is backed by mid-market private equity firm Livingbridge.  The 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 for end users.

 

The Signia team was led by Managing Director Stuart Lees and assisted by Director, Susan Lees.

 

Stuart Lees commented.  "Signia is delighted to have advised the shareholders of M247 Limited on the sale of the business to Metronet (UK). M247 has grown very rapidly from its formation in 2003 and today provides a wide range of service including, managed and dedicated hosting, data security and high level IT consulting services. I am sure the enlarged group will continue to expand very successfully."

 

David Buckle, M247 Managing Director said.  “Signia were proactive in every phase of the transaction, firstly working with us to strengthen our internal processes and so minimize potential value detractors. Secondly, in the identification of potential premium bidders.  Whilst we knew of Metronet (UK) from the industry, we had not previously considered them as a potential purchaser.  Signia’s high level contacts unlocked the deal for us.  Stuart and Susan worked tirelessly to ultimately deliver the deal we agreed and had granted exclusivity over.  It was a pleasure to work with them on the most important transaction in M247 history.  I would not hesitate to recommend Signia or work with the team again.”

 

For more information, please contact Susan Lees.

susan@Signiacorporatefinance.co.uk

07931 568335

​