Maytech Communications said Tuesday it secured investment from MXC Capital. Terms of the deal call for MXC to provide an equity investment representing up to 25 per cent of Maytech as well as a working capital facility from its debt fund. U.K.-based Maytech provides FTP hosted services for business.
Tunbridge Wells, Kent (PRWEB UK) 2 July 2013
Global cloud file sharing business Maytech Communications (Maytech) has secured investment from specialist investment and advisory group MXC Capital (MXC).
Under the terms of the deal, MXC will provide an equity investment representing up to 25 per cent of Maytech as well as a working capital facility from its debt fund. Maytech will use the capital to accelerate organic growth and to branch into new areas within the file transfer market.
Commenting on the investment by MXC, John Lynch, chief executive of Maytech, said: “We are delighted with this investment and particularly relish the prospect of having MXC as a partner who can help us take the business forward.
“We’ve been growing at 30% each year over the last few years and this deal enables us to accelerate that growth by ramping up investment in our product portfolio, our team and our marketing.
“We are working more closely than ever with our customers, listening to their needs, what’s important to them and integrating our solutions into their workflows. Every enterprise has specific requirements relevant to their business. This investment empowers us to increase our focus on building custom solutions to meet their needs.”
Ian Smith, Managing Partner, of MXC Capital said: “This agreement with Maytech is a blueprint for how MXC can help rapidly growing companies in the TMT sector. Maytech has an excellent product in a highly exciting space.
“This investment will enable it to take advantage of its huge market opportunity whilst our combined experience will help the management team through the challenges which come with such a period of transition.”
Maytech (http://www.maytech.net) provides a global cloud data transfer platform that enables organisations to control important workflows and document exchange in a reliable and secure fashion.
Eight hundred companies ranging in size from SMEs to huge corporations, across 60 verticals, in 35 countries use the service and the platform was an essential component of the London 2012 Olympics information architecture.
Launched in 2006, Maytech owns and operates a global data exchange network with hubs across the world. Maytech typically replaces in-house server infrastructure and self-serve consumer-centric file sharing services that lack essential oversight and control features.
Maytech product suite
InstantShare: Web-based secure file sharing, combining simple file sharing technologies with enterprise level controls. InstantShare launches in Beta in July.
FTP-Stream: Feature-rich cloud data transfer platform enabling people to share files of any size.
Quatrix: Customised solutions for complex workflows.
MXC Capital was formed in 2009 by Ian Smith and Tony Weaver who have delivered more than 50 corporate transactions in the last 10 years with a value in excess of £330m. The Company is chaired by Martin Bolland, a founding partner of private equity firm Alchemy partners where he remains a member of its investment committee and monitoring board.
MXC Capital act as a specialist investment and advisory group that provides investment, corporate finance advice, strategic consultancy services and structured finance solutions to companies in the TMT sector.
The MXC team typically maintains an operational interest in the companies in which they invest.