Kestrel Investment Partners (“Kestrel”) is pleased to have taken a cornerstone position in Redcentric PLC’s £64m capital raising which it used to fund the acquisition of InTechnology Managed Services Limited (“ITMS”) on 18 November 2013.
Kestrel’s funding commitment at a very early stage in the acquisition process gave Redcentric’s management and the vendors of ITMS confidence that the acquisition would be successfully financed.
Kestrel remained supporting of the transaction throughout a long due diligence prices and ultimately secured £20m of equity funding for the transaction.
Max Royde, Chief Executive of Kestrel, says: “This is a transformative acquisition for Redcentric, making it one of the UK’s leading providers of network based end to end managed services, technology and infrastructure solutions in the UK. We are pleased to have played a key role in helping Redcentric’s management secure and finance this acquisition and are very optimistic for the enlarged group’s prospects”