Coniston Capital has finalized an investment in Equity Networks, a provider of IT managed service solutions. The move aims to support Equity Networks’ strategic acquisition plans, the company said. The exact amount of the investment was not disclosed.
This investment is the sixth engagement for the Coniston Capital I LP fund since its last fundraising round in March 2022.
Investment Details
Equity Networks, established in 2011 by co-managing directors Alex Hall and Marcos Reid, specializes in a range of IT services. These include managed cloud applications, cloud infrastructure, data security, and communications, focusing on enhancing internet connectivity.
Equity Networks has successfully completed five acquisitions so far. The fresh influx of capital from Coniston Capital is set to facilitate further acquisitions with multiple prospects already identified, according to the company.
In addition, the company said that Edward Spurrier is slated to join Equity Networks' board as a non-executive chairman. Spurrier brings extensive experience in IT and communications, having previously held executive leadership positions, including CEO of Alt Networks and chairman of Wavenet, the firm said.
Executive Statements
Regarding the partnership, Alfred Chambers, who spearheaded the transaction on behalf of Coniston and will also join the Equity Networks board, commented:
“Coniston is pleased to partner with Equity Networks. Their innovative team has a clear focus on customer service and an ambitious buy-and-build strategy. They already have experience in acquiring and growing businesses in an attractive sector and we believe that, with Coniston’s support, Equity Networks will complete several more transactions.”
Echoing the sentiment, Alex Hall expressed optimism about the future collaboration:
“We welcome this partnership with Coniston as we enter the next stage of our growth journey. Coniston’s expertise, experience, and funding will enable us to accelerate our acquisition plans, to take advantage of exciting opportunities and ultimately to better serve our customers.”
Advisory Roles
The transaction was supported and advised by several firms. Coniston was assisted by Browne Jacobson, Crowe, CRC, and BlairWest, with professionals like Mike Jackson, Matt Dorman, Sonia Bains, Dan Nixon, Jack Sargent, Emma Reynolds, Jack Paine, Emma Hillary, and Chris Marshall playing key roles. Equity Networks received guidance from Old Mill on corporate finance, led by Scott Hill and Mark Neath, and Barnes Roffe on legal matters, managed by Stephen Corner.
