Advisor16 Feb 2016 07:34
MXC Advises Castle Street on Substantial Acquisition
MXC is pleased to announce that it advised Castle Street Investments plc ("Castle Street") on its acquisition of C4L Group Holdings Limited ("C4L"), a successful and growing network services and data centre hosting business, for a total consideration of £20.2 million in cash and shares (the "Acquisition").
Highlights:
· MXC acted as lead adviser to Castle Street in originating and executing the Acquisition
· Acquisition of C4L is a key component in building out Castle Street's platform
· C4L brings a high quality core network infrastructure with substantial capacity for growth and a broad data centre infrastructure
· With 45 staff based in Bournemouth and Docklands, C4L provides services to over 800 customers. Over 90% of its revenues are recurring
· The Acquisition will be immediately earnings enhancing and, in line with the Company's strategy, will facilitate a broader integrated service offering to a larger client base while focusing on delivering higher margin services.
Peter Rigg, Chairman of MXC said:
"It's good to see MXC continuing to support its investee companies this way, having both originated and executed this transformative acquisition for Castle Street. The Board of Castle Street has a clear fix on the market opportunity and we have great confidence in their ability to deliver."