Quantix on Cloud Nine After Sale to Interoute
September 2011
Livingstone Partners’ Technology team has advised the shareholders of Quantix Ltd (‘Quantix’) on the sale of the business to Interoute Communications Ltd (‘Interoute’).
Nottingham-based Quantix started in 1997 as a support services division within Sphinx CST, a large IT distribution business. By 2002, it was successful enough to be spun-out as an autonomous business unit with Dick Salmon and Simon Goodenough leading the business as Managing Director and Sales Director respectively. In 2007, Salmon and Goodenough completed a management buy-out backed by ISIS Equity Partners, at which point David Amos joined the business as Chief Financial Officer. The investment by ISIS enabled them to accelerate the rate of growth of the business, becoming one of the UK’s leading providers of Application Managed Services, managed ‘Cloud’ services and infrastructure solutions. Quantix is now widely regarded as the industry leader in the UK IT managed services sector.
Interoute is the owner operator of Europe’s largest next-generation network and private Cloud services platform. The acquisition bolsters Interoute’s cloud-based unified ICT strategy by adding managed applications services to its unified computing and managed hosting portfolio. The synergies between Quantix and Interoute mean that Quantix’s customers will benefit immediately from the business being part of a larger group, giving them access to a larger European network.
David Amos, Chief Financial Officer at Quantix commented: “Livingstone Partners were instrumental in running a tight and focussed exit transaction for the shareholders that resulted in the successful identification of a strategic trade purchaser with completion within a tight timeframe.”
Paul Morris, Investment Director at ISIS, said of the sale: “Quantix has been an excellent investment for ISIS. The team has successfully grown the core managed service offering, whilst at the same time developed a compelling Cloud proposition. Interoute is an innovative company that is continually adding new service offerings to its pan-European cloud offering, Quantix fits perfectly with its enterprise proposition. We are confident that the business will continue to prosper under Interoute’s ownership. In selling the business Livingstone amply demonstrated both deep sector insight and the tenacity to get a deal done.”
Tom Phipps, Director at Livingstone Partners, added: “The management team at Quantix have built up a very successful managed services business, which we believe will provide Interoute with a strong platform for further growth.”
Simon Cope-Thompson, Partner at Livingstone Partners said: “Having completed the sale of Calyx last year, we are delighted to have delivered a successful sale of one of the UK’s leading independent IT services companies for management and ISIS.”
For further information contact:
Simon Cope-Thompson
T: +44 20 7484 4706
E: sct@livingstonepartners.co.uk
Tom Phipps
T: +44 20 7484 4717
E: phipps@livingstonepartners.co.uk
Oliver Vaughan
T: +44 20 7484 4709
E: vaughan@livingstonepartners.co.uk
