Bestport Ventures LLP has sold its stake in Vega Technologies Ltd, parent of Dot Net Solutions. New Signature, which is backed by Columbia Capital, is the buyer. Financial terms weren’t announced. London-based Dot Net provides a cloud-managed platform that helps businesses assess, manage and migrate workloads infrastructure. Bestport said it made 2.8x its original investment with the deal that generated an IRR of 50 percent.
Bestport Ventures LLP (“Bestport”), has sold its interest in Vega Technologies Limited (“Vega”), the
parent company of Dot Net Solutions (“Dot Net”) to New Signature, a US based IT services business
backed by Columbia Capital. Bestport first invested in Dot Net in July 2013 providing growth capital
to help accelerate the expansion of the business in the very exciting Microsoft Cloud IT services
Bestport have made 2.8x its original investment generating an IRR of 50%. This is the second
successful exit of an IT services business where the Bestport team has backed CEO Paul Cosgrave.
During this period revenues have increased three fold and staff numbers have grown fivefold. Dot
Net won the coveted Microsoft Partner of the Year in 2014 and continues to be a leading Microsoft
Gold Partner in cloud services.
Paul Cosgrave commented “Bestport have been a fantastic partner to work with. They provide great
advice at board meetings and have been actively involved in growing the business over the last three
years. They have been supportive of the management team at critical points on the Dot Net journey
and encouraged the business to strive for increased growth” Sharon Baylay, Chairman of Dot Net
added “Bestport have indeed been a very supportive and value added investor. Dot Net can now
accelerate its tremendous growth in the UK, building on its position of leadership as a combined
Microsoft public cloud integrator and managed services provider via a number of specific, targeted
acquisitions under its new ownership.”
James Stoddart, Managing Partner of Bestport concluded “It is quite rare to invest in a business with
very ambitious growth targets and exceed expectations. Dot Net has benefited from the rapid
growth in the Microsoft cloud services portfolio and Paul Cosgrave and his team have done a
fantastic job in driving Dot Net Solutions into a market leadership position in this sector in the UK”
About Bestport Ventures
Bestport Ventures focuses on investing in smaller development capital and buy-out opportunities in the UK.
Bestport Ventures takes a pro-active and supportive approach to investee companies and seeks to assist with
key strategic and operational issues on the road through to exit. Investee companies have direct access to
Bestport’s highly accomplished advisory board and extensive network of sector specialists.
About Dot Net
Dot Net is Microsoft’s 2014 UK Partner of the Year with a full suite of offerings across Microsoft Azure, Office
365 and EMS supported by its 24/7 managed services support team. Dot Net enables organisations to
experience the benefits of traditional managed services and outsourcing whilst leveraging the cost efficiencies
and agility of the Microsoft public cloud. Dot Net is uniquely placed with its Cloud Managed Platform to help
assess, migrate and then manage workloads and infrastructure in the cloud.