ISIS Equity Partners, investing funds from the Baronsmead VCTs, and Invex Capital Partners, have led the GBP10m management buyout of Nottingham based Quantix Limited, a provider of IT Mana
ISIS Equity Partners, investing funds from the Baronsmead VCTs, and Invex Capital Partners, have led the GBP10m management buyout of Nottingham based Quantix Limited, a provider of IT Managed Services.
Quantix operates in the fast growing area of outsourced database, applications and security management, providing support, consulting and product sales from key partners Oracle, Microsoft, Juniper, Surfcontrol and Checkpoint. It is usually far more cost effective for commercial and public sector enterprises to get technically advanced support from Quantix, rather than trying to maintain an expensive in-house team. Quantix already has over 230 contracts and has strong growth prospects as more organisations outsource this function to technical specialists.
Quantix has close relations with its technology partners and is a Certified Advantage Partner with Oracle, and a Microsoft Gold Partner. The company was formed in 2002 and now has 31 employees covering the whole of the UK from its Nottingham base.
ISIS has significant experience in backing and growing IT businesses and its previous transactions include service business Panacea, and software companies Blue 8 and Bolden James.
Quantix is led by Managing Director Dick Salmon and Sales Director Simon Goodenough. ISIS assisted the completion of the team by introducing FD David Amos who previously worked with ISIS at software company Blue 8.
‘The timing of the deal is excellent,’ says Salmon. ‘In the last three years Quantix has grown sales and profits impressively – by over 300% and 700% respectively – but the financial investment and support now available to us will accelerate this growth even further. For example, we will be relocating to prestigious new offices in Nottingham in May 2007, recruiting ten new members of staff in the next 6 months and actively searching foracquisition targets. We look forward to working closely with our new investors for thebenefit of our customers, employees and Vendor partners.’
Paul Morris, who led the transaction for ISIS, adds: ‘We believe Quantix is an excellent platform for growth in the expanding SME IT Managed Service sector. We have high regard for its technical capabilities and it has ample untapped growth opportunities.’
ISIS and Invex have invested GBP4.8m in equity to fund the transaction, with debt facilities provided by Lloyds TSB Corporate Markets. Gavin Cummings of Browne Jacobson acted for management.
