Metronet UK, which is backed by Livingbridge Private Equity, has acquired UK-based Venus Business Communications, an ethernet network provider. No financial terms were disclosed. RPL Mergers provided financial advice to the Venus shareholders on the sale.
LONDON, March 8, 2017 /PRNewswire/ –RPL Mergers has acted as the exclusive financial advisor to the shareholders of Venus Business Communications on its sale to Manchester-based wireless network provider, Metronet UK, a portfolio holding of Livingbridge Private Equity.
Venus is one of the UK’s leading providers of ethernet networks, and was recently included in the Deloitte’s Fast 500™ (EMEA). The deal gives Metronet a London footprint and allows Venus to expand its product set. Venus’ Directors, Justin Keery and Brian Iddon, will remain with the enlarged business to support Metronet’s ambitious plans for continued growth.
This is the seventh disposal RPL Mergers have advised on in the last 12 months. Commenting on the transaction Tim Buckeridge, Partner, at RPL stated: “Demand for connectivity continues to grow in line with the increased adoption of cloud based applications. We very much enjoyed working with Brian and Justin, and were delighted to bring our experience of disposals to help them achieve their goals.”
Justin Keery, Founder of Venus, commented, “RPL were fully committed to Venus, they not only delivered exceptional value for shareholders but they also supported us continuously through every stage of the transaction from preparing information through to completion.”
About RPL Mergers
RPL Mergers is a specialist technology M&A firm formed in 2004 to advise owner-operators on exits, disposals and earn-outs. They help clients achieve maximum value and work with them through every stage of the process. http://rplmergers.com/