6 Sep 2010 15:00
BETTER CAPITAL LIMITED 6 September 2010
ACQUISITION
Better Capital Limited (the "Company") is pleased to announce that on 3 September 2010 BECAP Fund LP (the "Better Capital Fund") acquired the bank debt and all related rights in Calyx Holdings Limited and its subsidiaries ("the Group").
The investment has been effected through a special purpose vehicle owned and controlled by the Better Capital Fund.
The Group is a provider of managed information communications and technology services based in the UK and Ireland. The products and services include full or partial IT outsourcing, voice and data services and related training. The Group also supplies network security services and has a software division providing financial applications.
The Company has today been informed that the Group's Irish and UK incorporated entities have been placed into administration and receivership respectively. Further announcements will be made as the transaction develops.
Enquiries:
Better Capital Limited +44 (0)1481 716 000
Mark Huntley (Director)
Laurence McNairn (Administrator and Company Secretary)
Better Capital LLP +44 (0)20 7440 0840
Jon Moulton (Chairman)
Numis Securities Limited +44 (0)20 7260 1000
Nathan Brown
Simon Blank