Mason Advisory provided due diligence support to ISIS Equity Partners (‘ISIS’) on the GBP45 million secondary buyout of Metronet (UK) from Lloyds Development Capital (‘LDC’), which was announced last week.
Mason Advisory, which is a subsidiary of global ICT solutions and services group Datatec, has undertaken due diligence exercises on behalf of a number of communications companies, including conducting the previous due diligence on Metronet in 2012 when the company was bought by LDC for GBP11 million.
Based in Manchester, Metronet (UK) is a business-only Internet service provider (ISP) that combines innovative wireless technology with traditional fibre to deliver connectivity solutions from leased lines to complex, multi-site networks across the UK. Mason Advisory advised on the technical aspects of the due diligence, including focusing on Metronet’s choice and deployment of technology to ensure that Metronet’s strategy would continue to offer an attractive service proposition into the future.
Mo Aneese of ISIS Equity Partners commented: “Mason provides experienced consultants who are commercially astute and have an in-depth understanding of technology. Their knowledge and input was excellent and supported our investment decision.”
Steve Watmough, CEO of Mason, said: “We were delighted to advise ISIS on this acquisition and wish Metronet and ISIS all the best for an exciting next stage of growth.”