Springboard Corporate Finance is delighted to announce that it has advised Metronet UK on the acquisition of Venus Business Communications, a high growth fibre network provider based in London.
About the deal
Metronet , which is backed by mid-market private equity firm Livingbridge, is the UK’s fastest growing connectivity and internet infrastructure provider, delivering industry-leading performance and support.
The acquisition of Venus, which is Metronet’s second acquisition after completing the strategic purchase of M247 in October 2016, will enable the enlarged group to enhance its rate of penetration of the London market. The combined group will now employ around 230 people across six sites and will support almost 34,000 customers across 92 countries.
David Neate led the deal for Springboard and commented ‘London is clearly the strategic market for connectivity and internet infrastructure businesses in the UK. The acquisition of Venus will provide an excellent platform from which Metronet can continue its impressive growth trajectory. We are delighted to have supported Metronet and Livingbridge on this transaction.”
How we made a difference
- Negotiated Heads of Terms for the acquisition;
- Projected managed the due diligence process on behalf of the investors and company
- Successfully negotiated the completion mechanism and working capital price adjustment; and
- Project managed the deal through to completion.
Lee Perkins - Metronet UK
Having used Springboard on a previous process, we had no hesitation in appointing Springboard for the transaction. As promised they delivered a professional, partner led service giving pragmatic yet commercial advice. I would have no hesitation in recommending them.