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Easynet

Easynet is a market leading independent pan-European networking and managed services provider.

Easynet was created by the simultaneous off-market acquisition of MDNX and Easynet Global Services, two leading managed network service providers.

MDNX integrated network services from multiple carriers across the UK, providing end-users with access to optimal networking and hosting solutions. The business had been built up by acquisition and was acquired from Kelso Place.

Easynet Global Services was founded in 1994, acquired by Sky and subsequently sold to LDC in 2010. The business was focused on developing a managed hosting proposition and had significant networking and data centre infrastructure across the UK and continental Europe.

VALUE CREATION

Equistone worked closely with the MDNX management team during 2013 to acquire MDNX and Easynet and to develop a comprehensive integration plan for the merger of the two businesses.

Immediately post the acquisition of the two businesses, the integration plan was implemented and Equistone worked alongside the management team to support the successful combination of MDNX and Easynet.

The result was the creation of a market leading independent pan-European networking and managed services provider, combining the strength of the Easynet brand and its well developed European footprint with the sophisticated back office automation, business systems and carrier integration business model of MDNX.

THE EXIT

Equistone completed the sale of Easynet to Interoute, the owner operator of Europe’s largest network and global cloud services platforms. The realisation was achieved within 22 months and generated a money multiple of 2.2x and an IRR of over 50% for Equistone on its Fund IV investment.

HOLDING PERIOD

Dec 2013 - Oct 2015

Country

UK

Business Description

Support Services

Revenue Progression

-

Employees at ACQ.

600

Investment Type

Secondary / Integration

… with the support of Equistone, the business has successfully moved to the next level in terms of service offering and coverage thanks primarily to increased scale.