Derby-headquartered Node4, the regional data centre, managed IT and communications specialist, has completed the acquisition of Premier IT Networks, a leading provider of cloud computing solutions to data-sensitive sectors, for an undisclosed sum.
The deal, which was transacted with support from leading private equity provider LDC, represents the third acquisition to be completed by Node4 since LDC backed the business in May 2013.
The transaction forms part of Node4’s ongoing acquisitive growth strategy, targeting complementary businesses operating within the data centre and cloud services markets.
Node4 provides a wide range of data centre and managed IT services, including colocation, connectivity, managed hosting, communications and hosted telephony, and a range of cloud services, to a UK-wide network of more than 900 fast-growing SME customers.
The business provides the very latest in technology and security measures, ensuring that even the most mission-critical IT applications are fully protected and hosted securely, and operates a regional network of data centre facilities located in Derby, Northampton and Leeds.
London-based Premier IT Networks was established in 2008 and is a specialist in the provision of secure cloud computing services, particularly for the legal and charity sectors. Its customer base includes some of London’s leading barrister’s chambers, as well as high-profile charities such as Breast Cancer Now and Prostate Cancer UK.
The acquisition will further strengthen Node4’s geographic presence, capabilities in new key vertical sectors and overall IT expertise, helping to ensure that the business is well positioned to capitalise on its ambitious plans for future growth.
Premier IT Network’s team of 17 employees will remain at its Central London site in Westminster, which will be incorporated into the Node4 network. Peter Bodley-Scott, Premier IT Network’s Sales Director and Thales Tsailas, Technical Director will continue working in the business.
During LDC’s tenure, Node4's staff numbers have more than doubled as a result of acquisitive and organic growth, with the business now employing a total of 155 people.
Commenting on the acquisition, Andrew Gilbert, Managing Director, Node4 said: “The Node4 management team is committed to expanding our presence across the UK, as well as our service portfolio, to support the company’s ambitious growth plans. “This latest acquisition strengthens our London presence, as well as bringing valuable sector expertise, which will allow us to grow our presence in the legal, not-for-profit and public sectors. Equally importantly, we are gaining a team of IT experts who share our values and customer-centric approach to business.”
John Green, Investment Director at LDC said: “This transaction represents another key milestone in our investment strategy to support the continued growth of Node4 and clearly demonstrates the management team’s on-going ambition and commitment to deliver acquisitive growth.
“The deal brings considerable strategic and operational benefits to Node4 and provides the business with a well-established foothold in the all-important Central London market, building on the existing southern presence. We remain committed to actively supporting our investment portfolio in their ‘buy and build’ strategies, and will continue to work alongside the Node4 team to identify and execute viable acquisition opportunities going forward.”
Premier IT Networks was advised by Grant Thornton, while PwC and Pinsent Masons acted on behalf of Node4.