Six Degrees Group
Penta Capital have backed the former team at Spiritel plc to undertake a £60m buy-and-build in the managed services and unified communications sector. The investment sees an initial platform created through the acquisitions in June and July 2011 of 3 platform investments in the connectivity, data centre and unified communications sectors respectively, with further acquisitions in September, October and thereafter to provide a full suite of IT and telecom services to medium-sized enterprises in the UK.
The investment was initiated, managed and led by Penta Capital, who have committed £40m equity to the investment and it follows the successful realisation of their investment in Spiritel plc by trade sale to Daisy Group plc in November 2010. This new venture focuses on the fragmentation of the IT and telecoms reseller services market and the rapid growth in data and cloud services underway in the UK. Penta Capital and management aim to build a market leading business in this rapidly growing sector, which demonstrates high levels of recurring revenues, organic growth, consolidation opportunity and economies of scale.
Steven Scott and Torquil Macnaughton
Six Degrees Group,
33 King William Street
London EC4R 9AS
Tel +44 (0)20 7858 4700
Fax +44 (0)20 7858 4701