Tue, 27 May 2014 | BUSINESS SALE
ASK4, a telecommunications service firm based in Yorkshire, has been purchased by Darwin Private Equity for £21.5 million.
The business provides WiFi, IPTV and broadband services to more than 100,000 people across Britain, including student housing buildings, private residential developments and serviced offices. It employs over 100 staff at its base in Sheffield and also operates a 180-rack tier-two data centre in the area.
Established by Jonathan Burrows in 2000, ASK4 broke into the student accommodation industry in 2005 after acquiring Horizon Telecoms.
The buyer will be supporting ASK4’s management team, led by its managing director Mr Burrows, in building on the expansion already achieved since 2005.
Nick Jordan, partner at Darwin Private Equity, is to join ASK4’s board. He said they are pleased with the prospect of working with ASK4, with its strong reputation for quality service with its customers.
Mr Burrows said the time is right for additional investment to bring the business into the next stage. He said: “The team at Darwin has impressed us with its focus and understanding of our market.
“With its support, we are committed to developing our technology offering and continue to deliver value, innovation and quality service to our customers.”
Investec Growth & Acquisition Finance provided acquisition finance facilities for the deal.
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Related information:
Due diligence
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