Jones Day London has advised funds managed by Alcuin Capital LLP as sellers in a management buyout of Adapt Group Limited backed by Lyceum Capital Partners LP for a consideration of 30 million pounds (US$46.4 million). Adapt, established in 2001 and headquartered in London, delivers enterprise-class cloud, infrastructure management, network and data centre services to mid-market clients that operate business critical IT applications.
Jones Day London advised funds managed by Alcuin Capital LLP as sellers in a management buy-out of Adapt Group Limited backed by Lyceum Capital Partners LP for a consideration of 30 million pounds (US$46.4 million).
Adapt, established in 2001 and headquartered in London, delivers enterprise-class cloud, infrastructure management, network and data centre services to a wide range of mid- market clients that operate business critical IT applications. It serves a broad client base, many of which are fast growth businesses including PKR, Cubic Transportation, Last.fm, LOVEFiLM and LCH.Clearnet.
Lead Partner, Adam Greaves in London comments: “We have acted for Alcuin Capital or its principals on private equity deals for a number of years and are delighted to have been able to advise on this successful disposal and also that Adapt, which we have advised on a number of matters, will now have new backing to fund its proposed buy and build strategy.”.
The Jones Day team was led by Adam Greaves, Head of Jones Day’s UK Private Equity Practice with support from M&A Partner Max Thorneycroft and Associate Saffron Finch.
Wragges & Co LLP acted for Lyceum and Berwin Leighton Paisner LLP acted for the management sellers.
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Notes to Editors:
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